Advisors Asset Management Inc. Has $144,000 Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Advisors Asset Management Inc. grew its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 212.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,023 shares of the shipping company’s stock after purchasing an additional 1,375 shares during the quarter. Advisors Asset Management Inc.’s holdings in Scorpio Tankers were worth $144,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Truist Financial Corp increased its holdings in Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after buying an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 177 shares during the period. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after purchasing an additional 252 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.1 %

NYSE:STNG opened at $50.66 on Friday. Scorpio Tankers Inc. has a one year low of $49.98 and a one year high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The company has a market cap of $2.56 billion, a PE ratio of 3.63 and a beta of 0.18. The firm’s 50 day simple moving average is $62.02 and its 200 day simple moving average is $71.20.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Scorpio Tankers’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.91 EPS. On average, research analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is presently 11.47%.

Analyst Ratings Changes

Several equities analysts have recently commented on STNG shares. Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group lowered their price objective on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Evercore ISI reduced their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $76.40.

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.