Epoch Investment Partners Inc. Sells 6,700 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Epoch Investment Partners Inc. trimmed its stake in Scorpio Tankers Inc. (NYSE:STNG) by 29.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,985 shares of the shipping company’s stock after selling 6,700 shares during the period. Epoch Investment Partners Inc.’s holdings in Scorpio Tankers were worth $1,144,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of STNG. Global Retirement Partners LLC lifted its stake in shares of Scorpio Tankers by 8,800.0% in the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 528 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $58,000. U S Global Investors Inc. lifted its stake in shares of Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after acquiring an additional 220 shares during the last quarter. Bfsg LLC bought a new stake in shares of Scorpio Tankers during the 4th quarter worth approximately $114,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Scorpio Tankers during the 4th quarter worth approximately $217,000. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Stock Down 1.0 %

Shares of NYSE:STNG traded down $0.77 on Friday, reaching $72.69. The company had a trading volume of 547,162 shares, compared to its average volume of 815,518. Scorpio Tankers Inc. has a 52-week low of $42.92 and a 52-week high of $84.67. The firm’s 50 day simple moving average is $79.52 and its 200-day simple moving average is $73.31. The firm has a market capitalization of $3.97 billion, a PE ratio of 6.74, a PEG ratio of 1.12 and a beta of 0.16. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The business had revenue of $389.76 million for the quarter, compared to the consensus estimate of $381.46 million. As a group, analysts expect that Scorpio Tankers Inc. will post 13.09 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.20%. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Evercore ISI raised their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Stifel Nicolaus raised their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 9th. Finally, Bank of America reduced their price objective on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.17.

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.