Alliancebernstein L.P. Has $2.74 Million Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Alliancebernstein L.P. decreased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 39.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,210 shares of the shipping company’s stock after selling 35,530 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Scorpio Tankers worth $2,743,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 402 shares during the last quarter. Lindbrook Capital LLC raised its position in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Scorpio Tankers by 850.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock valued at $49,000 after purchasing an additional 876 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Scorpio Tankers during the third quarter worth about $68,000. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $33.63 on Wednesday. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The company’s 50-day moving average is $39.50 and its 200 day moving average is $49.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company has a market capitalization of $1.68 billion, a P/E ratio of 2.58 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, equities research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.76%. Scorpio Tankers’s dividend payout ratio is presently 12.27%.

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.