Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,233 shares of the shipping company’s stock after selling 3,271 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of Scorpio Tankers worth $3,596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STNG. LSV Asset Management increased its position in Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after purchasing an additional 156,414 shares in the last quarter. Renaissance Technologies LLC increased its position in Scorpio Tankers by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after purchasing an additional 62,600 shares in the last quarter. American Century Companies Inc. increased its position in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after purchasing an additional 199,858 shares in the last quarter. Vanguard Group Inc. increased its position in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares in the last quarter. Finally, Hartree Partners LP increased its position in Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock worth $37,313,000 after purchasing an additional 450,498 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Stifel Nicolaus lifted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Evercore ISI lifted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and an average price target of $88.80.

Scorpio Tankers Stock Performance

NYSE STNG opened at $73.14 on Tuesday. The firm has a market capitalization of $3.99 billion, a P/E ratio of 6.78, a P/E/G ratio of 2.00 and a beta of 0.15. Scorpio Tankers Inc. has a 1-year low of $52.01 and a 1-year high of $84.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The business’s 50-day simple moving average is $71.39 and its 200-day simple moving average is $74.66.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. Scorpio Tankers’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. Equities analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Scorpio Tankers Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.