Janney Montgomery Scott LLC Purchases New Shares in Scorpio Tankers Inc. (NYSE:STNG)

Janney Montgomery Scott LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,002 shares of the shipping company’s stock, valued at approximately $249,000.

A number of other hedge funds have also recently bought and sold shares of STNG. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers in the 3rd quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after buying an additional 402 shares during the last quarter. AM Squared Ltd bought a new position in Scorpio Tankers during the third quarter valued at about $64,000. Wilmington Savings Fund Society FSB purchased a new stake in Scorpio Tankers during the third quarter worth about $68,000. Finally, Quarry LP raised its position in Scorpio Tankers by 103.5% in the third quarter. Quarry LP now owns 1,349 shares of the shipping company’s stock worth $96,000 after acquiring an additional 686 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Down 0.5 %

Scorpio Tankers stock opened at $47.92 on Thursday. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 3.44 and a beta of 0.08. The firm has a 50 day simple moving average of $49.52 and a 200 day simple moving average of $60.03. Scorpio Tankers Inc. has a 1-year low of $45.43 and a 1-year high of $84.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. On average, analysts predict that Scorpio Tankers Inc. will post 9.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI dropped their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $72.75.

Scorpio Tankers Company 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.