Qsemble Capital Management LP Reduces Position in Scorpio Tankers Inc. (NYSE:STNG)

Qsemble Capital Management LP lessened its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 8.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,677 shares of the shipping company’s stock after selling 698 shares during the quarter. Qsemble Capital Management LP’s holdings in Scorpio Tankers were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in STNG. International Assets Investment Management LLC grew its stake in Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the last quarter. Vanguard Group Inc. lifted its position in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after acquiring an additional 549,395 shares during the period. Acadian Asset Management LLC lifted its position in Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock worth $23,034,000 after acquiring an additional 264,049 shares during the period. American Century Companies Inc. lifted its position in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares during the period. Finally, LSV Asset Management lifted its position in Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after acquiring an additional 156,414 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $50.70 on Thursday. The stock has a fifty day moving average price of $63.14 and a 200 day moving average price of $71.69. The stock has a market cap of $2.56 billion, a PE ratio of 3.67 and a beta of 0.18. Scorpio Tankers Inc. has a 1 year low of $50.13 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.14. The firm had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Scorpio Tankers’s revenue was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.91 earnings per share. Sell-side analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s payout ratio is 11.47%.

Analysts Set New Price Targets

STNG has been the subject of a number of recent research reports. Evercore ISI decreased their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America reduced their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, StockNews.com cut Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and a consensus price target of $76.40.

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.