Scorpio Tankers Inc. (NYSE:STNG) Position Lowered by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 39.0% during the third quarter, HoldingsChannel.com reports. The fund owned 195,351 shares of the shipping company’s stock after selling 124,749 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Scorpio Tankers were worth $13,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. LSV Asset Management increased its stake in shares of Scorpio Tankers by 8.5% during the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after acquiring an additional 156,414 shares during the period. International Assets Investment Management LLC grew its position in Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the last quarter. Renaissance Technologies LLC grew its position in Scorpio Tankers by 5.0% in the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after buying an additional 62,600 shares during the last quarter. American Century Companies Inc. grew its position in Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after buying an additional 199,858 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after buying an additional 549,395 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Bank of America decreased their price target on shares of 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 shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group lowered 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Trading Down 3.1 %

Shares of NYSE:STNG opened at $50.17 on Thursday. The firm has a fifty day moving average of $60.85 and a two-hundred day moving average of $70.51. The firm has a market capitalization of $2.53 billion, a P/E ratio of 3.60 and a beta of 0.13. Scorpio Tankers Inc. has a 12-month low of $49.16 and a 12-month high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 EPS. On average, equities analysts expect that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

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.