5,340 Shares in Scorpio Tankers Inc. (NYSE:STNG) Bought by Cornerstone Investment Partners LLC

Cornerstone Investment Partners LLC purchased a new position in Scorpio Tankers Inc. (NYSE:STNG – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,340 shares of the shipping company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE increased its holdings in Scorpio Tankers by 38.7% in the 2nd quarter. US Bancorp DE now owns 1,082 shares of the shipping company’s stock worth $37,000 after acquiring an additional 302 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Scorpio Tankers by 3.1% during the second quarter. International Assets Investment Management LLC now owns 10,353 shares of the shipping company’s stock worth $357,000 after buying an additional 308 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Scorpio Tankers by 3.6% during the first quarter. First Trust Advisors LP now owns 12,099 shares of the shipping company’s stock worth $259,000 after buying an additional 418 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of Scorpio Tankers during the second quarter worth $28,000. Finally, Ellevest Inc. grew its holdings in shares of Scorpio Tankers by 108.6% during the second quarter. Ellevest Inc. now owns 1,882 shares of the shipping company’s stock worth $65,000 after buying an additional 980 shares in the last quarter. Hedge funds and other institutional investors own 54.53% of the company’s stock.

Scorpio Tankers Trading Down 1.9 %

NYSE STNG opened at $45.49 on Wednesday. The firm’s 50-day moving average is $51.93 and its two-hundred day moving average is $46.01. Scorpio Tankers Inc. has a 12 month low of $12.45 and a 12 month high of $57.71. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.54 and a quick ratio of 1.54. The stock has a market capitalization of $2.66 billion, a P/E ratio of 9.24, a PEG ratio of 0.15 and a beta of 0.50.

Scorpio Tankers (NYSE:STNG – Get Rating) last posted its earnings results on Tuesday, November 1st. The shipping company reported $4.29 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.48. Scorpio Tankers had a net margin of 26.86% and a return on equity of 21.04%. The company had revenue of $456.28 million for the quarter, compared to analysts’ expectations of $417.90 million. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.02 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $0.40 dividend on an annualized basis and a yield of 0.88%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 7.97%.

Analyst Upgrades and Downgrades

STNG has been the subject of a number of research reports. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, October 18th. BTIG Research boosted their price target on shares of Scorpio Tankers from $60.00 to $70.00 in a research report on Friday, December 9th. TheStreet raised shares of Scorpio Tankers from a “c” rating to a “b-” rating in a research report on Wednesday, November 2nd. Jefferies Financial Group boosted their price target on shares of Scorpio Tankers from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, December 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Scorpio Tankers from $52.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, January 12th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.71.

About Scorpio Tankers

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Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.