Sapient Capital LLC Sells 15,314 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Sapient Capital LLC lowered its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 11.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 114,161 shares of the shipping company’s stock after selling 15,314 shares during the period. Sapient Capital LLC owned about 0.21% of Scorpio Tankers worth $8,140,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new stake in shares of Scorpio Tankers during the fourth quarter valued at approximately $740,000. International Assets Investment Management LLC grew its holdings in Scorpio Tankers by 34.8% in the first quarter. International Assets Investment Management LLC now owns 21,517 shares of the shipping company’s stock worth $1,565,000 after purchasing an additional 5,550 shares during the period. Counterpoint Mutual Funds LLC lifted its holdings in shares of Scorpio Tankers by 24.7% during the first quarter. Counterpoint Mutual Funds LLC now owns 7,526 shares of the shipping company’s stock valued at $538,000 after purchasing an additional 1,489 shares during the last quarter. AlphaMark Advisors LLC boosted its position in shares of Scorpio Tankers by 5.9% in the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock worth $358,000 after purchasing an additional 281 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Scorpio Tankers by 320.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,777 shares of the shipping company’s stock worth $628,000 after buying an additional 6,690 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America dropped their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Stifel Nicolaus raised their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Finally, Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.80.

Scorpio Tankers Stock Performance

NYSE:STNG opened at $70.11 on Monday. The company has a market cap of $3.73 billion, a price-to-earnings ratio of 5.57, a PEG ratio of 1.94 and a beta of 0.15. Scorpio Tankers Inc. has a 1 year low of $52.68 and a 1 year high of $84.67. The stock’s 50 day simple moving average is $71.01 and its two-hundred day simple moving average is $74.66. 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 (NYSE:STNG) last released its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the firm earned $2.41 earnings per share. Scorpio Tankers’s revenue was up 15.6% on a year-over-year basis. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders 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 2.28%. Scorpio Tankers’s payout ratio is currently 12.58%.

About Scorpio Tankers

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.