Quantbot Technologies LP Grows Position in Scorpio Tankers Inc. (NYSE:STNG)

Quantbot Technologies LP raised its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 85.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 50,250 shares of the shipping company’s stock after purchasing an additional 23,176 shares during the quarter. Quantbot Technologies LP owned about 0.10% of Scorpio Tankers worth $3,583,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its stake in shares of Scorpio Tankers by 25.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 55,341 shares of the shipping company’s stock worth $3,946,000 after purchasing an additional 11,108 shares during the period. Independent Advisor Alliance purchased a new stake in Scorpio Tankers during the third quarter worth $2,221,000. Daiwa Securities Group Inc. grew its position in Scorpio Tankers by 37.1% during the third quarter. Daiwa Securities Group Inc. now owns 21,952 shares of the shipping company’s stock valued at $1,565,000 after buying an additional 5,941 shares during the period. Citigroup Inc. increased its holdings in Scorpio Tankers by 120.1% in the third quarter. Citigroup Inc. now owns 58,576 shares of the shipping company’s stock valued at $4,176,000 after buying an additional 31,960 shares in the last quarter. Finally, Navellier & Associates Inc. raised its position in shares of Scorpio Tankers by 5.1% in the third quarter. Navellier & Associates Inc. now owns 10,474 shares of the shipping company’s stock worth $747,000 after acquiring an additional 508 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

NYSE STNG opened at $50.70 on Thursday. The company has a market cap of $2.56 billion, a P/E ratio of 3.63 and a beta of 0.18. Scorpio Tankers Inc. has a 1-year low of $50.13 and a 1-year high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock has a 50-day moving average of $63.14 and a two-hundred day moving average of $71.69.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. During the same period in the previous year, the firm posted $1.91 EPS. Scorpio Tankers’s revenue for the quarter was down 8.0% on a year-over-year basis. As a group, analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.16%. Scorpio Tankers’s payout ratio is currently 11.47%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on STNG shares. 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 note on Tuesday, October 22nd. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price objective for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Evercore ISI dropped 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. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.