Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its stake in Scorpio Tankers Inc. (NYSE:STNG) by 15.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,392 shares of the shipping company’s stock after selling 7,460 shares during the quarter. Sei Investments Co. owned approximately 0.07% of Scorpio Tankers worth $3,203,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of STNG. Canada Pension Plan Investment Board lifted its stake in Scorpio Tankers by 105.1% during the second quarter. Canada Pension Plan Investment Board now owns 168,600 shares of the shipping company’s stock worth $13,705,000 after purchasing an additional 86,400 shares during the last quarter. First Eagle Investment Management LLC bought a new position in shares of Scorpio Tankers in the 2nd quarter worth about $4,550,000. Seven Eight Capital LP boosted its holdings in shares of Scorpio Tankers by 162.9% in the 2nd quarter. Seven Eight Capital LP now owns 14,591 shares of the shipping company’s stock valued at $1,186,000 after buying an additional 9,040 shares during the period. Beck Bode LLC bought a new stake in shares of Scorpio Tankers during the 2nd quarter valued at about $2,162,000. Finally, Sagil Capital LLP raised its stake in Scorpio Tankers by 204.3% during the second quarter. Sagil Capital LLP now owns 40,965 shares of the shipping company’s stock worth $3,330,000 after acquiring an additional 80,243 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $74.34 on Friday. The stock has a market cap of $3.95 billion, a P/E ratio of 6.90, a P/E/G ratio of 1.96 and a beta of 0.16. The firm’s 50-day simple moving average is $71.39 and its 200 day simple moving average is $74.62. Scorpio Tankers Inc. has a fifty-two week low of $47.88 and a fifty-two week high of $84.67. 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 (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. During the same period in the previous year, the firm earned $2.41 EPS. Scorpio Tankers’s revenue was up 15.6% on a year-over-year basis. Equities analysts expect that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus upped their price objective on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Evercore ISI raised their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group restated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Finally, StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

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.