Envestnet Asset Management Reduces Stake in Scorpio Tankers

☀️Trending News

Envestnet Asset Management Inc. has recently announced that it has reduced its stake in Scorpio Tankers ($NYSE:STNG) Inc., a global provider of marine transportation services specializing in the transportation of crude oil, refined oil products, and liquefied petroleum gas. The company currently boasts a modern fleet of eco-friendly tankers featuring high-quality technology and safety features, which have been designed for optimal efficiency and minimum environmental impact. As of this month, Scorpio Tankers Inc. is listed on the New York Stock Exchange, and its shares are traded under the ticker symbol STNG. The recent announcement from Envestnet Asset Management Inc. has caused a decrease in the stock price of Scorpio Tankers Inc., indicating investors’ cautiousness about the potential impact of reduced stake.

Despite this market reaction, Scorpio Tankers Inc. remains a reliable company with a strong presence in the shipping industry. With an impressive fleet of ships and its commitment to providing excellent services, the company is well-positioned for future growth and success.

Market Price

On Friday, Envestnet Asset Management Inc. reported a reduction in its stake in Scorpio Tankers Inc. This announcement caused a slight increase in the stock price of Scorpio Tankers Inc., opening at $54.9 and closing at $55.7, which is 1.5% higher than the previous closing price. This news is likely to have an impact on the long-term strategy of Scorpio Tankers Inc., as the company will now have less capital to invest in new projects or initiatives. It also signals a shift in investor sentiment, as Envestnet Asset Management Inc. no longer has confidence in the company’s future prospects. This could lead to a decrease in investor confidence in Scorpio Tankers Inc., and cause stock prices to decline as a result. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Scorpio Tankers. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Scorpio Tankers. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Scorpio Tankers. More…

Key Ratios Snapshot

Some of the financial key ratios for Scorpio Tankers are shown below. More…

Analysis

At GoodWhale, we conducted an analysis of SCORPIO TANKERS‘s wellbeing and the results show that they are classified as a ‘gorilla’ in our Star Chart. This type of company has achieved stable and high revenue or earning growth due to their strong competitive advantage. This may make them attractive to a range of investors who are interested in such a company. In terms of their health score, SCORPIO TANKERS has a rating of 8/10. This is because their cashflows and debt are strong, showing that they are capable to pay off debt and fund future operations. They are also strong in terms of dividend, growth, and medium in asset and profitability. These factors make SCORPIO TANKERS an attractive investment option for those interested in a reliable company. More…

Peers

Scorpio Tankers Inc is one of the largest tanker shipping companies in the world. Founded in 2009, the company is headquartered in Monaco. Scorpio Tankers Inc has a fleet of over 100 tankers and operates in over 30 countries. The company’s main competitors are TORM PLC, Petro Times JSC, and Pilipinas Shell Petroleum Corp.

– TORM PLC ($LTS:0RG4)

In 2022, Dorman Products, Inc. had a market capitalization of $16.22 billion and a return on equity of 17.86%. Dorman Products, Inc. is a leading supplier of original equipment dealer “exclusive” automotive and heavy duty replacement parts, automotive hardware, brake parts, and fasteners to the automotive aftermarket.

– Petro Times JSC ($HNX:PPT)

Pilipinas Shell Petroleum Corporation is a publicly listed company in the Philippines with a market capitalization of 28.95 billion as of 2022. The company is engaged in the business of refining, marketing, and distributing petroleum products in the Philippines. The company has a return on equity of 17.04%.

Summary

Investors in Scorpio Tankers Inc. have been negatively affected as Envestnet Asset Management Inc. recently cut its stake in the company. The analysis of SCORPIO TANKERS’ financials reveals a highly volatile stock with a declining revenue trend. However, with the current market situation, investors should keep a watchful eye on SCORPIO TANKERS’ financials going forward.