Callan Family Office LLC Makes New Investment in Scorpio Tankers Inc. $STNG

Key Points

• Callan Family Office LLC made a new investment in Scorpio Tankers Inc., acquiring 6,617 shares valued at approximately $259,000 in the second quarter.
• The company reported a quarterly EPS of $1.41, exceeding estimates and despite a 39.5% year-over-year revenue decline.
• Scorpio Tankers announced a quarterly dividend of $0.40 per share, indicating an annualized yield of 2.9% with a payout ratio of 21.80%.

Callan Family Office LLC bought a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,617 shares of the shipping company's stock, valued at approximately $259,000.

Several other hedge funds have also modified their holdings of STNG. Empowered Funds LLC lifted its stake in shares of Scorpio Tankers by 47.0% in the first quarter. Empowered Funds LLC now owns 166,282 shares of the shipping company's stock worth $6,249,000 after acquiring an additional 53,153 shares in the last quarter. Rhumbline Advisers increased its holdings in Scorpio Tankers by 10.7% during the 1st quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company's stock worth $3,163,000 after purchasing an additional 8,170 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Scorpio Tankers by 24.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company's stock valued at $576,000 after purchasing an additional 2,971 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Scorpio Tankers by 55.1% during the 1st quarter. AQR Capital Management LLC now owns 334,858 shares of the shipping company's stock valued at $12,584,000 after buying an additional 119,000 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of Scorpio Tankers by 17.8% during the first quarter. Invesco Ltd. now owns 137,600 shares of the shipping company's stock worth $5,171,000 after buying an additional 20,764 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $55.84 on Friday. The firm's 50 day moving average is $53.33 and its two-hundred day moving average is $44.94. The firm has a market capitalization of $2.85 billion, a P/E ratio of 7.61 and a beta of 0.01. The company has a current ratio of 4.95, a quick ratio of 4.83 and a debt-to-equity ratio of 0.28. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $67.50.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The shipping company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.38. The business had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%.The business's revenue was down 39.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 earnings per share. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Wednesday, August 13th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Wednesday, August 13th. Scorpio Tankers's payout ratio is currently 21.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on STNG shares. Bank of America increased their price target on shares of Scorpio Tankers from $60.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Jefferies Financial Group increased their target price on Scorpio Tankers from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Zacks Research upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 12th. Weiss Ratings reissued a "hold (c)" rating on shares of Scorpio Tankers in a research report on Wednesday, October 8th. Finally, B. Riley restated a "buy" rating and set a $80.00 price objective (up from $75.00) on shares of Scorpio Tankers in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $64.40.

Scorpio Tankers 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.

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