Chesapeake Capital Corp IL Grows Position in Scorpio Tankers Inc. (NYSE:STNG)

Chesapeake Capital Corp IL boosted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 6.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,841 shares of the shipping company’s stock after purchasing an additional 349 shares during the quarter. Chesapeake Capital Corp IL’s holdings in Scorpio Tankers were worth $419,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of STNG. EverSource Wealth Advisors LLC lifted its position in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Scorpio Tankers during the third quarter valued at approximately $28,000. Fifth Third Bancorp lifted its position in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares in the last quarter. Quarry LP lifted its position in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. lifted its position in Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after buying an additional 177 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 2.3 %

Shares of STNG stock opened at $53.73 on Monday. Scorpio Tankers Inc. has a 12 month low of $52.68 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. The business’s 50 day moving average is $65.18 and its two-hundred day moving average is $72.69. The company has a market cap of $2.71 billion, a PE ratio of 3.85 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG) last issued 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 last year, the business earned $1.91 earnings per share. Scorpio Tankers’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.40 dividend. 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 2.98%. Scorpio Tankers’s payout ratio is 11.47%.

Analyst Ratings Changes

STNG has been the topic of a number of recent research reports. Evercore ISI reduced their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research 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. Jefferies Financial Group cut their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Bank of America lowered their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and a consensus target price of $76.40.

Scorpio Tankers 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.