Foster & Motley Inc. Sells 2,522 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Foster & Motley Inc. reduced its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 27.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,556 shares of the shipping company’s stock after selling 2,522 shares during the quarter. Foster & Motley Inc.’s holdings in Scorpio Tankers were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers in the third quarter valued at $28,000. GAMMA Investing LLC grew 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 valued at $30,000 after acquiring an additional 402 shares in the last quarter. Quarry LP increased its position in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. raised its holdings 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 acquiring an additional 177 shares in the last quarter. Finally, AM Squared Ltd bought a new stake in Scorpio Tankers during the third quarter worth about $64,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STNG has been the topic of several recent analyst reports. Evercore ISI lowered 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. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group cut their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Bank of America lowered 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. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $75.40.

Scorpio Tankers Trading Down 0.2 %

Shares of Scorpio Tankers stock opened at $47.81 on Friday. Scorpio Tankers Inc. has a 1 year low of $45.43 and a 1 year high of $84.67. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 3.43 and a beta of 0.12. The business has a fifty day simple moving average of $49.91 and a two-hundred day simple moving average of $61.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 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 the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 EPS. Research analysts forecast that Scorpio Tankers Inc. will post 10.09 EPS for the current year.

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.