Federated Hermes Inc. Purchases 26,994 Shares of Scorpio Tankers Inc. $STNG

Federated Hermes Inc. grew its position in Scorpio Tankers Inc. (NYSE:STNG) by 234.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,524 shares of the shipping company’s stock after buying an additional 26,994 shares during the period. Federated Hermes Inc. owned approximately 0.08% of Scorpio Tankers worth $2,159,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Spire Wealth Management grew its stake in Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 330 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Scorpio Tankers by 143.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 460 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 61.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 350 shares during the period. Public Employees Retirement System of Ohio increased its stake in 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Scorpio Tankers by 30.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the shipping company’s stock worth $63,000 after buying an additional 263 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.7%

Scorpio Tankers stock opened at $64.54 on Thursday. The company has a current ratio of 4.81, a quick ratio of 4.75 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $65.52. The company has a fifty day simple moving average of $55.65 and a 200 day simple moving average of $54.93. The company has a market cap of $3.29 billion, a P/E ratio of 10.92 and a beta of -0.25.

Wall Street Analyst Weigh In

STNG has been the subject of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a report on Thursday, October 30th. 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 objective (up from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.00.

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.