Vinva Investment Management Ltd Trims Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Vinva Investment Management Ltd decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 17.6% in the third quarter, HoldingsChannel reports. The firm owned 5,460 shares of the shipping company’s stock after selling 1,166 shares during the quarter. Vinva Investment Management Ltd’s holdings in Scorpio Tankers were worth $389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of STNG. De Lisle Partners LLP raised its holdings in shares of Scorpio Tankers by 32.8% during the third quarter. De Lisle Partners LLP now owns 20,258 shares of the shipping company’s stock worth $1,444,000 after purchasing an additional 5,000 shares during the last quarter. Quantbot Technologies LP boosted its stake in shares of Scorpio Tankers by 85.6% in the third quarter. Quantbot Technologies LP now owns 50,250 shares of the shipping company’s stock worth $3,583,000 after buying an additional 23,176 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Scorpio Tankers by 25.1% during the third quarter. The Manufacturers Life Insurance Company now owns 55,341 shares of the shipping company’s stock worth $3,946,000 after acquiring an additional 11,108 shares during the period. Independent Advisor Alliance purchased a new position in Scorpio Tankers during the third quarter valued at approximately $2,221,000. Finally, Daiwa Securities Group Inc. boosted its position in Scorpio Tankers by 37.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 21,952 shares of the shipping company’s stock worth $1,565,000 after purchasing an additional 5,941 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on STNG shares. Evercore ISI decreased their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Bank of America dropped 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. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group lowered their target price on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $76.40.

Scorpio Tankers Trading Down 0.1 %

NYSE STNG opened at $50.66 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 3.63 and a beta of 0.18. The firm has a 50 day simple moving average of $62.02 and a 200-day simple moving average of $71.15. Scorpio Tankers Inc. has a one year low of $49.98 and a one year high of $84.67.

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

Scorpio Tankers Dividend Announcement

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

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.