Scorpio Tankers Inc. (NYSE:STNG) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in Scorpio Tankers Inc. (NYSE:STNG) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,952 shares of the shipping company’s stock after acquiring an additional 5,941 shares during the period. Daiwa Securities Group Inc.’s holdings in Scorpio Tankers were worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of Scorpio Tankers by 120.1% during the third quarter. Citigroup Inc. now owns 58,576 shares of the shipping company’s stock worth $4,176,000 after buying an additional 31,960 shares during the period. Navellier & Associates Inc. boosted its stake in shares of Scorpio Tankers by 5.1% during the third quarter. Navellier & Associates Inc. now owns 10,474 shares of the shipping company’s stock worth $747,000 after buying an additional 508 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Scorpio Tankers by 7.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 35,936 shares of the shipping company’s stock worth $2,562,000 after buying an additional 2,467 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Scorpio Tankers during the third quarter worth about $1,339,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of Scorpio Tankers by 212.2% during the third quarter. Advisors Asset Management Inc. now owns 2,023 shares of the shipping company’s stock worth $144,000 after buying an additional 1,375 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 1.0 %

NYSE STNG opened at $50.69 on Friday. Scorpio Tankers Inc. has a 52-week low of $50.13 and a 52-week high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.56 billion, a P/E ratio of 3.63 and a beta of 0.18. The firm has a 50-day moving average price of $62.76 and a 200 day moving average price of $71.55.

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

Scorpio Tankers Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STNG. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group cut their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from 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.