Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 20.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,881 shares of the shipping company’s stock after selling 36,670 shares during the quarter. Russell Investments Group Ltd.’s holdings in Scorpio Tankers were worth $8,687,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of STNG. FMR LLC increased its holdings in shares of Scorpio Tankers by 94.4% during the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock valued at $126,357,000 after acquiring an additional 1,133,900 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Scorpio Tankers by 4,706.2% during the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock valued at $59,025,000 after acquiring an additional 950,600 shares in the last quarter. DNB Asset Management AS increased its holdings in shares of Scorpio Tankers by 167.0% during the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock valued at $15,494,000 after acquiring an additional 159,393 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Scorpio Tankers by 30.0% during the third quarter. American Century Companies Inc. now owns 400,833 shares of the shipping company’s stock valued at $21,693,000 after acquiring an additional 92,561 shares in the last quarter. Finally, Foundry Partners LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter valued at about $5,587,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.6 %

STNG opened at $71.99 on Tuesday. The company has a fifty day moving average of $70.50 and a two-hundred day moving average of $64.55. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 7.24, a PEG ratio of 1.27 and a beta of 0.18. Scorpio Tankers Inc. has a fifty-two week low of $40.34 and a fifty-two 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 quarterly 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. The firm had revenue of $336.30 million during the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. Scorpio Tankers’s revenue for the quarter was down 31.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.24 EPS. On average, research analysts expect that Scorpio Tankers Inc. will post 12.25 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a dividend of $0.40 per share. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.22%. Scorpio Tankers’s dividend payout ratio (DPR) is 16.10%.

Analysts Set New Price Targets

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