RFG Advisory LLC Takes Position in Scorpio Tankers Inc. $STNG

Key Points

• RFG Advisory LLC has acquired a new stake in Scorpio Tankers Inc. valued at approximately $233,000 by purchasing 5,961 shares in the second quarter.
• Several analysts have upgraded Scorpio Tankers' stock with Bank of America increasing its target price from $60.00 to $66.00, while Zacks Research upgraded to a strong-buy rating.
• Scorpio Tankers reported a EPS of $1.41 for the last quarter, exceeding estimates, but with a significant 39.5% decrease in revenue compared to the same quarter last year.

RFG Advisory LLC acquired a new stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,961 shares of the shipping company's stock, valued at approximately $233,000.

A number of other hedge funds have also recently modified their holdings of STNG. Pinnacle Holdings LLC purchased a new stake in shares of Scorpio Tankers in the first quarter valued at about $26,000. Signaturefd LLC grew its holdings in shares of Scorpio Tankers by 95.6% in the first quarter. Signaturefd LLC now owns 761 shares of the shipping company's stock valued at $29,000 after purchasing an additional 372 shares during the period. GAMMA Investing LLC grew its holdings in shares of Scorpio Tankers by 206.1% in the second quarter. GAMMA Investing LLC now owns 854 shares of the shipping company's stock valued at $33,000 after purchasing an additional 575 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of Scorpio Tankers by 25.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company's stock valued at $48,000 after purchasing an additional 245 shares during the period. Finally, Parallel Advisors LLC boosted its stake in Scorpio Tankers by 629.8% during the second quarter. Parallel Advisors LLC now owns 1,934 shares of the shipping company's stock worth $76,000 after buying an additional 1,669 shares during the period. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

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

Scorpio Tankers Trading Up 3.2%

NYSE STNG opened at $57.52 on Monday. The firm has a 50 day simple moving average of $53.57 and a 200-day simple moving average of $45.20. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $67.50. The firm has a market cap of $2.93 billion, a price-to-earnings ratio of 7.84 and a beta of 0.01.

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

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Wednesday, August 13th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This represents a $1.60 annualized dividend and a yield of 2.8%. Scorpio Tankers's dividend payout ratio (DPR) is 21.80%.

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.

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