AlphaMark Advisors LLC Has $360,000 Position in Scorpio Tankers Inc. (NYSE:STNG)

AlphaMark Advisors LLC trimmed its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 11.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,427 shares of the shipping company’s stock after selling 581 shares during the quarter. AlphaMark Advisors LLC’s holdings in Scorpio Tankers were worth $360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC boosted its stake in shares of Scorpio Tankers by 8,800.0% in the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 528 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Scorpio Tankers in the first quarter valued at approximately $58,000. Bfsg LLC purchased a new position in Scorpio Tankers during the 4th quarter worth $114,000. CWM LLC grew its position in Scorpio Tankers by 39.4% in the 2nd quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock worth $146,000 after purchasing an additional 506 shares in the last quarter. Finally, EMC Capital Management purchased a new stake in Scorpio Tankers in the 1st quarter valued at about $194,000. 54.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on STNG. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Evercore ISI upped 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 upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Thursday, August 8th. Bank of America reduced their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus lifted their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Scorpio Tankers Trading Up 1.9 %

Shares of NYSE STNG traded up $1.39 during midday trading on Thursday, hitting $74.52. 471,741 shares of the company traded hands, compared to its average volume of 967,592. Scorpio Tankers Inc. has a 12-month low of $47.88 and a 12-month high of $84.67. The firm has a market cap of $3.96 billion, a P/E ratio of 6.91, a P/E/G ratio of 1.30 and a beta of 0.17. The stock has a 50-day moving average price of $77.73 and a 200 day moving average price of $74.10. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $368.62 million. During the same period last year, the business earned $2.41 EPS. Scorpio Tankers’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, analysts expect that Scorpio Tankers Inc. will post 13.08 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be given a $0.40 dividend. The ex-dividend date is Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.15%. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

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.