ProShare Advisors LLC Sells 2,186 Shares of Scorpio Tankers Inc. (NYSE:STNG)

ProShare Advisors LLC lessened its stake in Scorpio Tankers Inc. (NYSE:STNG) by 25.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,401 shares of the shipping company’s stock after selling 2,186 shares during the quarter. ProShare Advisors LLC’s holdings in Scorpio Tankers were worth $520,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STNG. Fifth Third Bancorp boosted 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 worth $34,000 after purchasing an additional 319 shares during the period. Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers in the 1st quarter valued at approximately $58,000. Headlands Technologies LLC grew its stake in Scorpio Tankers by 1,912.2% in the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the shipping company’s stock valued at $80,000 after buying an additional 937 shares in the last quarter. Blue Trust Inc. raised its holdings in Scorpio Tankers by 7,942.9% during the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock valued at $92,000 after acquiring an additional 1,112 shares during the period. Finally, CWM LLC lifted its position in shares of Scorpio Tankers by 39.4% during the second quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock worth $146,000 after acquiring an additional 506 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on STNG. Evercore ISI boosted their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Bank of America lowered their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Finally, Stifel Nicolaus upped their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $88.80.

Scorpio Tankers Trading Down 0.5 %

Shares of STNG opened at $71.30 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. Scorpio Tankers Inc. has a 1-year low of $47.88 and a 1-year high of $84.67. The company has a market capitalization of $3.79 billion, a P/E ratio of 6.61, a P/E/G ratio of 1.94 and a beta of 0.16. The firm’s 50 day simple moving average is $71.66 and its 200 day simple moving average is $74.63.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) 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 the consensus estimate of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.41 EPS. Sell-side analysts forecast that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were given 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 dividend yield of 2.24%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

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.