SG Americas Securities LLC Sells 17,899 Shares of Scorpio Tankers Inc. (NYSE:STNG)

SG Americas Securities LLC lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 84.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,309 shares of the shipping company’s stock after selling 17,899 shares during the period. SG Americas Securities LLC’s holdings in Scorpio Tankers were worth $201,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Scorpio Tankers by 1.9% in the 3rd quarter. BlackRock Inc. now owns 3,068,462 shares of the shipping company’s stock worth $128,998,000 after buying an additional 55,817 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Scorpio Tankers by 2.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,578,947 shares of the shipping company’s stock worth $55,136,000 after buying an additional 57,184 shares during the last quarter. FMR LLC raised its position in Scorpio Tankers by 94.4% in the 3rd quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock worth $126,357,000 after buying an additional 1,133,900 shares during the last quarter. Two Sigma Advisers LP increased its position in shares of Scorpio Tankers by 5.8% during the 1st quarter. Two Sigma Advisers LP now owns 1,072,792 shares of the shipping company’s stock valued at $60,409,000 after purchasing an additional 58,571 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Scorpio Tankers by 2.9% during the 1st quarter. Renaissance Technologies LLC now owns 956,815 shares of the shipping company’s stock valued at $53,878,000 after purchasing an additional 27,300 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 0.9 %

Shares of NYSE:STNG opened at $70.97 on Friday. The stock has a 50 day moving average of $69.33 and a 200 day moving average of $62.54. The company has a market cap of $3.77 billion, a PE ratio of 7.14 and a beta of 0.21. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. Scorpio Tankers Inc. has a 12-month low of $40.34 and a 12-month high of $74.04.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The business had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. During the same period in the prior year, the company posted $4.24 EPS. The firm’s revenue for the quarter was down 31.9% compared to the same quarter last year. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 12.3 EPS for the current year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.25%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 7th. Scorpio Tankers’s dividend payout ratio is presently 16.10%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STNG. Evercore ISI upped their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.