Envestnet Asset Management Inc. Has $465,000 Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Envestnet Asset Management Inc. trimmed its position in Scorpio Tankers Inc. (NYSE:STNG) by 71.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,360 shares of the shipping company’s stock after selling 23,179 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Scorpio Tankers were worth $465,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in STNG. GAMMA Investing LLC boosted its stake in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of 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 in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after buying an additional 266 shares during the period. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 876 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Scorpio Tankers during the third quarter valued at $68,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $39.78 on Monday. The business’s 50-day simple moving average is $37.39 and its 200-day simple moving average is $46.44. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $84.67. 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 firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.05 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The company had revenue of $204.20 million for the quarter, compared to the consensus estimate of $205.89 million. During the same quarter last year, the company posted $3.97 earnings per share. The company’s revenue for the quarter was down 45.3% compared to the same quarter last year. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio (DPR) is 15.76%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on STNG. Stifel Nicolaus lowered their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Evercore ISI dropped their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Jefferies Financial Group reissued a “buy” rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.50.

About Scorpio Tankers

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.