Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 59.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,783 shares of the shipping company’s stock after selling 31,628 shares during the quarter. BNP Paribas Financial Markets’ holdings in Scorpio Tankers were worth $1,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lindbrook Capital LLC lifted its stake 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 worth $30,000 after buying an additional 263 shares in the last quarter. Covestor Ltd lifted its stake in shares of Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after buying an additional 770 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake 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 in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after buying an additional 876 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Scorpio Tankers in the fourth quarter worth about $99,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Fearnley Fonds raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Evercore ISI reduced their target price 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, May 2nd. Finally, Stifel Nicolaus reduced their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $41.61 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The firm’s 50-day moving average is $37.89 and its two-hundred day moving average is $44.85. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The company has a market capitalization of $2.12 billion, a PE ratio of 3.19 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. The business had revenue of $204.20 million for the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The business’s revenue was down 45.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.97 EPS. Analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio (DPR) is 15.76%.

Scorpio Tankers 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.