AM Squared Ltd Makes New $64,000 Investment in Scorpio Tankers Inc. (NYSE:STNG)

AM Squared Ltd acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 900 shares of the shipping company’s stock, valued at approximately $64,000.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Scorpio Tankers during the third quarter worth approximately $28,000. Fifth Third Bancorp grew its stake in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares during the period. Quarry LP grew its stake in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after buying an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its stake in Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after buying an additional 177 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Down 2.3 %

Shares of NYSE:STNG opened at $53.73 on Friday. The stock has a market capitalization of $2.71 billion, a price-to-earnings ratio of 3.85 and a beta of 0.18. Scorpio Tankers Inc. has a 1-year low of $52.68 and a 1-year high of $84.67. The company’s fifty day moving average is $65.18 and its two-hundred day moving average is $72.69. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping 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 business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter last year, the company earned $1.91 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

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 paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 2.98%. Scorpio Tankers’s payout ratio is 11.47%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on STNG shares. Jefferies Financial Group decreased their target price on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Bank of America reduced their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company 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.