Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 6.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,502 shares of the shipping company’s stock after selling 1,277 shares during the period. California State Teachers Retirement System’s holdings in Scorpio Tankers were worth $986,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of STNG. Platinum Investment Management Ltd. acquired a new position in shares of Scorpio Tankers in the fourth quarter worth about $48,792,000. Millennium Management LLC boosted its holdings in Scorpio Tankers by 810.7% in the second quarter. Millennium Management LLC now owns 553,021 shares of the shipping company’s stock valued at $19,085,000 after acquiring an additional 492,296 shares during the last quarter. Norges Bank acquired a new position in shares of Scorpio Tankers during the 4th quarter worth about $23,348,000. Strategic Income Management LLC acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth about $22,702,000. Finally, ExodusPoint Capital Management LP lifted its position in Scorpio Tankers by 215.2% in the 4th quarter. ExodusPoint Capital Management LP now owns 473,082 shares of the shipping company’s stock valued at $25,438,000 after acquiring an additional 322,981 shares in the last quarter. Hedge funds and other institutional investors own 66.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STNG. Bank of America downgraded Scorpio Tankers from a “buy” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $45.00 in a report on Friday, July 21st. JPMorgan Chase & Co. decreased their price objective on Scorpio Tankers from $95.00 to $82.00 and set an “overweight” rating for the company in a report on Friday, July 14th. StockNews.com started coverage on shares of Scorpio Tankers in a research report on Thursday, August 17th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft raised Scorpio Tankers from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Thursday, June 29th. Finally, Stifel Nicolaus lowered their price target on shares of Scorpio Tankers from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Wednesday, July 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.43.

Scorpio Tankers Price Performance

STNG stock opened at $50.27 on Friday. The company has a market capitalization of $2.74 billion, a PE ratio of 3.50, a price-to-earnings-growth ratio of 0.17 and a beta of 0.42. The company’s fifty day moving average price is $47.12 and its 200-day moving average price is $50.90. Scorpio Tankers Inc. has a one year low of $38.05 and a one year high of $64.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.19 and a current ratio of 1.21.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, August 2nd. The shipping company reported $2.41 EPS for the quarter, topping the consensus estimate of $2.38 by $0.03. The business had revenue of $327.56 million for the quarter, compared to analysts’ expectations of $332.31 million. Scorpio Tankers had a net margin of 50.44% and a return on equity of 35.38%. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 9.19 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 15th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, August 14th. Scorpio Tankers’s dividend payout ratio is currently 6.97%.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 23, 2023, its fleet consisted of 113 owned, finance leased, or bareboat chartered-in tankers, including 39 LR2, 60 MR, and 14 Handymax with a weighted average age of approximately 7.2 years.