Moody Aldrich Partners LLC Trims Position in Scorpio Tankers Inc. (NYSE:STNG)

Moody Aldrich Partners LLC cut its stake in Scorpio Tankers Inc. (NYSE:STNG) by 72.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,600 shares of the shipping company’s stock after selling 82,042 shares during the period. Moody Aldrich Partners LLC’s holdings in Scorpio Tankers were worth $2,182,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in STNG. EverSource Wealth Advisors LLC grew its holdings in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares during the period. Fifth Third Bancorp increased its position in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after acquiring an additional 319 shares during the last quarter. Quarry LP raised its position in shares of Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 177 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Scorpio Tankers in the 1st quarter worth approximately $58,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.9 %

Shares of NYSE:STNG traded down $0.58 during trading on Thursday, reaching $61.00. 207,679 shares of the company traded hands, compared to its average volume of 904,689. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Scorpio Tankers Inc. has a 1-year low of $52.68 and a 1-year high of $84.67. The firm has a fifty day simple moving average of $69.81 and a 200 day simple moving average of $74.30. The firm has a market cap of $3.24 billion, a P/E ratio of 4.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The business’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.41 earnings per share. Analysts anticipate that Scorpio Tankers Inc. will post 12.43 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.62%. Scorpio Tankers’s dividend payout ratio is 12.58%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a research report on Wednesday. Bank of America lowered their price objective 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. Finally, StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $82.40.

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.