Allspring Global Investments Holdings LLC bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,888 shares of the shipping company's stock, valued at approximately $79,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in Scorpio Tankers during the 2nd quarter valued at approximately $28,000. US Bancorp DE raised its stake in Scorpio Tankers by 38.7% during the 2nd quarter. US Bancorp DE now owns 1,082 shares of the shipping company's stock valued at $37,000 after purchasing an additional 302 shares during the period. Captrust Financial Advisors raised its stake in Scorpio Tankers by 243.8% during the 2nd quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company's stock valued at $78,000 after purchasing an additional 1,599 shares during the period. Point72 Hong Kong Ltd raised its stake in Scorpio Tankers by 834.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,279 shares of the shipping company's stock valued at $79,000 after purchasing an additional 2,035 shares during the period. Finally, USA Financial Portformulas Corp purchased a new position in Scorpio Tankers during the 3rd quarter valued at approximately $92,000. Institutional investors own 54.53% of the company's stock.
Get Scorpio Tankers alerts:Scorpio Tankers Price Performance
STNG opened at $47.48 on Monday. The business has a fifty day moving average of $51.72 and a 200 day moving average of $46.30. Scorpio Tankers Inc. has a 52-week low of $12.99 and a 52-week high of $57.71. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.77 billion, a P/E ratio of 9.46, a PEG ratio of 0.15 and a beta of 0.50.
Scorpio Tankers (NYSE:STNG – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The shipping company reported $4.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.81 by $0.48. Scorpio Tankers had a return on equity of 21.04% and a net margin of 26.86%. The company had revenue of $456.28 million during the quarter, compared to analysts' expectations of $417.90 million. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.02 EPS for the current year.Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. B. Riley raised their price target on Scorpio Tankers from $50.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, November 2nd. BTIG Research raised their price target on Scorpio Tankers from $60.00 to $70.00 in a report on Friday, December 9th. StockNews.com upgraded Scorpio Tankers from a "hold" rating to a "buy" rating in a report on Tuesday, October 18th. Jefferies Financial Group raised their price target on Scorpio Tankers from $65.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, December 14th. Finally, TheStreet upgraded Scorpio Tankers from a "c" rating to a "b-" rating in a report on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.71.
Scorpio Tankers Company Profile
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Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.
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