MQS Management LLC Invests $284,000 in Scorpio Tankers Inc. (NYSE:STNG)

MQS Management LLC acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,981 shares of the shipping company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC bought a new position in shares of Scorpio Tankers during the 1st quarter valued at $596,000. SG Americas Securities LLC boosted its position in Scorpio Tankers by 91.4% in the first quarter. SG Americas Securities LLC now owns 6,334 shares of the shipping company’s stock worth $453,000 after purchasing an additional 3,025 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Scorpio Tankers by 6.9% during the 1st quarter. Russell Investments Group Ltd. now owns 152,794 shares of the shipping company’s stock valued at $10,932,000 after purchasing an additional 9,913 shares during the period. ProShare Advisors LLC grew its stake in shares of Scorpio Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company’s stock valued at $614,000 after purchasing an additional 676 shares during the period. Finally, Bleakley Financial Group LLC increased its position in shares of Scorpio Tankers by 8.8% during the 1st quarter. Bleakley Financial Group LLC now owns 8,908 shares of the shipping company’s stock valued at $637,000 after purchasing an additional 717 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $54.97 on Friday. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of 3.94 and a beta of 0.18. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock’s 50-day simple moving average is $65.72 and its 200-day simple moving average is $72.93. Scorpio Tankers Inc. has a 52 week low of $52.68 and a 52 week high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping 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 in the previous year, the firm earned $1.91 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. As a group, analysts expect that Scorpio Tankers Inc. will post 11.13 earnings per share 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 issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.91%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Wall Street Analyst Weigh In

STNG has been the topic of a number of research reports. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Evercore ISI cut 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 report on Wednesday, October 30th. Jefferies Financial Group decreased their target price on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Bank of America lowered 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. Finally, 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 research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.40.

About Scorpio Tankers

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.