Federated Hermes Inc. Has $2.16 Million Stock Position in Scorpio Tankers Inc. $STNG

Federated Hermes Inc. lifted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 234.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,524 shares of the shipping company’s stock after purchasing an additional 26,994 shares during the period. Federated Hermes Inc.’s holdings in Scorpio Tankers were worth $2,159,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after buying an additional 1,144 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after acquiring an additional 2,802 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Scorpio Tankers by 25.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock worth $48,000 after purchasing an additional 245 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in shares of Scorpio Tankers during the 2nd quarter worth about $532,000. Finally, Callan Family Office LLC bought a new stake in shares of Scorpio Tankers in the 2nd quarter valued at about $259,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analysts Set New Price Targets

STNG has been the subject of a number of research analyst reports. Zacks Research cut Scorpio Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 30th. BTIG Research lifted their target price on Scorpio Tankers from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday. Evercore ISI set a $80.00 price target on Scorpio Tankers and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, B. Riley reaffirmed a “buy” rating and set a $80.00 price target (up previously from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Hold” and an average price target of $71.00.

Scorpio Tankers Trading Down 0.7%

Shares of NYSE:STNG opened at $64.54 on Thursday. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $65.52. The business has a 50 day moving average of $55.65 and a 200-day moving average of $54.93. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.29 billion, a PE ratio of 10.92 and a beta of -0.25.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.