EMC Capital Management Acquires 1,035 Shares of Scorpio Tankers Inc. (NYSE:STNG)

EMC Capital Management raised its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 61.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,717 shares of the shipping company’s stock after acquiring an additional 1,035 shares during the period. EMC Capital Management’s holdings in Scorpio Tankers were worth $135,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Assenagon Asset Management S.A. increased its position in Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after purchasing an additional 181,135 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Scorpio Tankers during the third quarter worth $8,459,000. Mountaineer Partners Management LLC increased its holdings in shares of Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after buying an additional 8,252,691 shares in the last quarter. Barclays PLC lifted its stake in shares of Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after acquiring an additional 168,866 shares during the last quarter. Finally, Independent Advisor Alliance acquired a new stake in shares of Scorpio Tankers during the 3rd quarter valued at $2,221,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 0.1 %

Scorpio Tankers stock opened at $47.83 on Friday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 3.43 and a beta of 0.12. Scorpio Tankers Inc. has a 52-week low of $45.43 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The firm has a 50 day moving average price of $50.01 and a two-hundred day moving average price of $61.83.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 earnings per share. Equities analysts predict that Scorpio Tankers Inc. will post 10.09 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on STNG. Jefferies Financial Group dropped their target price on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. 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 report on Wednesday, October 30th. Bank of America reduced their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.40.

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.