Scorpio Tankers Inc. (NYSE:STNG) Holdings Decreased by Federated Hermes Inc.

Federated Hermes Inc. reduced its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,120 shares of the shipping company’s stock after selling 35,535 shares during the quarter. Federated Hermes Inc.’s holdings in Scorpio Tankers were worth $2,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of STNG. Neo Ivy Capital Management bought a new stake in shares of Scorpio Tankers during the third quarter valued at about $27,000. CWM LLC raised its stake in shares of Scorpio Tankers by 1,037.0% during the third quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 477 shares in the last quarter. Headinvest LLC bought a new stake in shares of Scorpio Tankers during the third quarter valued at about $51,000. Sunbelt Securities Inc. bought a new stake in shares of Scorpio Tankers during the third quarter valued at about $54,000. Finally, U S Global Investors Inc. raised its stake in shares of Scorpio Tankers by 14.5% during the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 220 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Scorpio Tankers Stock Performance

STNG opened at $72.77 on Monday. The company has a market cap of $3.86 billion, a PE ratio of 7.32, a price-to-earnings-growth ratio of 1.25 and a beta of 0.21. The stock has a 50-day moving average of $70.01 and a 200-day moving average of $63.90. Scorpio Tankers Inc. has a 52-week low of $40.34 and a 52-week high of $74.04. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating 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 firm had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. During the same quarter in the prior year, the company earned $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 forecast that Scorpio Tankers Inc. will post 12.54 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were issued a $0.40 dividend. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 2.20%. Scorpio Tankers’s dividend payout ratio is 16.10%.

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.