Tidal Investments LLC Has $3.31 Million Stock Position in Scorpio Tankers Inc. $STNG

Tidal Investments LLC lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 11.6% during the second quarter, HoldingsChannel reports. The firm owned 47,867 shares of the shipping company’s stock after selling 6,301 shares during the period. Tidal Investments LLC’s holdings in Scorpio Tankers were worth $3,315,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of STNG. WINTON GROUP Ltd purchased a new position in shares of Scorpio Tankers in the second quarter worth approximately $478,000. Allworth Financial LP lifted its position in shares of Scorpio Tankers by 4.9% in the 2nd quarter. Allworth Financial LP now owns 12,097 shares of the shipping company’s stock valued at $838,000 after acquiring an additional 568 shares in the last quarter. Corient Private Wealth LP acquired a new position in Scorpio Tankers in the 2nd quarter worth approximately $318,000. California State Teachers Retirement System boosted its stake in Scorpio Tankers by 1,693.1% in the 2nd quarter. California State Teachers Retirement System now owns 43,842 shares of the shipping company’s stock worth $3,036,000 after purchasing an additional 41,397 shares during the period. Finally, HB Wealth Management LLC purchased a new position in Scorpio Tankers during the 2nd quarter worth approximately $237,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.0%

Shares of NYSE:STNG opened at $85.38 on Tuesday. The firm has a fifty day moving average of $78.62 and a two-hundred day moving average of $77.30. The firm has a market capitalization of $4.31 billion, a P/E ratio of 5.33 and a beta of -0.22. Scorpio Tankers Inc. has a 12-month low of $48.93 and a 12-month high of $87.39. The company has a quick ratio of 6.89, a current ratio of 6.93 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The business had revenue of $408.73 million for the quarter, compared to the consensus estimate of $398.25 million. During the same period in the prior year, the business posted $1.41 earnings per share. Scorpio Tankers’s revenue for the quarter was up 77.5% compared to the same quarter last year. On average, equities analysts expect that Scorpio Tankers Inc. will post 11.21 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.45 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Scorpio Tankers’s payout ratio is 11.24%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STNG. Zacks Research downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price target on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Bank of America reissued an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Finally, Evercore reaffirmed an “outperform” rating and set a $94.00 target price on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.14.

Scorpio Tankers Company Profile

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.