Gordian Capital Singapore Pte Ltd Sells 4,830 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Gordian Capital Singapore Pte Ltd lowered its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 49.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,000 shares of the shipping company’s stock after selling 4,830 shares during the quarter. Gordian Capital Singapore Pte Ltd’s holdings in Scorpio Tankers were worth $356,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in STNG. Public Employees Retirement System of Ohio purchased a new stake in shares of Scorpio Tankers during the 3rd quarter worth approximately $8,459,000. Y Intercept Hong Kong Ltd grew its stake in shares of Scorpio Tankers by 50.1% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 19,397 shares of the shipping company’s stock worth $1,383,000 after buying an additional 6,473 shares in the last quarter. MML Investors Services LLC purchased a new position in shares of Scorpio Tankers in the 3rd quarter worth $203,000. DF Dent & Co. Inc. bought a new stake in shares of Scorpio Tankers in the 3rd quarter worth about $1,070,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Scorpio Tankers during the 3rd quarter valued at about $552,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 1.5 %

NYSE:STNG opened at $48.80 on Monday. The firm has a 50-day simple moving average of $59.97 and a 200-day simple moving average of $69.97. Scorpio Tankers Inc. has a one year low of $48.13 and a one year high of $84.67. The firm has a market cap of $2.47 billion, a P/E ratio of 3.50 and a beta of 0.13. 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 posted its earnings results 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. The company had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Scorpio Tankers’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.91 earnings per share. Equities analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STNG. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Jefferies Financial Group cut their price objective on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Evercore ISI decreased their price objective 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. Stifel Nicolaus lowered shares of 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, Bank of America lowered their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Hold” and an average price target of $76.40.

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.