Fiera Capital Corp Buys 5,531 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Fiera Capital Corp lifted its position in Scorpio Tankers Inc. (NYSE:STNG) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 351,456 shares of the shipping company’s stock after purchasing an additional 5,531 shares during the quarter. Fiera Capital Corp owned about 0.70% of Scorpio Tankers worth $25,059,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Truist Financial Corp lifted its position in Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock valued at $889,000 after purchasing an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. lifted its stake in shares of Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the last quarter. Quarry LP increased its position in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares during the period. Finally, Fifth Third Bancorp lifted its position in Scorpio Tankers by 319.0% in 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 last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

STNG stock opened at $54.67 on Friday. 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 Inc. has a 1-year low of $52.68 and a 1-year high of $84.67. The business has a 50-day moving average price of $66.65 and a 200 day moving average price of $73.28. The company has a market capitalization of $2.76 billion, a P/E ratio of 3.92 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.14. The firm had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.91 EPS. As a group, equities research analysts forecast that Scorpio Tankers Inc. will post 11.13 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STNG. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Bank of America dropped their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 29th. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four investment 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.com, the company has a consensus rating of “Hold” and an average price target of $78.40.

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.