Cetera Investment Advisers Has $565,000 Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Cetera Investment Advisers decreased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 63.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,364 shares of the shipping company’s stock after selling 19,398 shares during the quarter. Cetera Investment Advisers’ holdings in Scorpio Tankers were worth $565,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd raised its stake in Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after buying an additional 770 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after acquiring an additional 266 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 876 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new position in Scorpio Tankers in the fourth quarter valued at about $99,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

STNG has been the topic of a number of research analyst reports. Fearnley Fonds raised Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their price target 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 restated a “buy” rating and set a $65.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Evercore ISI cut 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 report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $60.50.

Scorpio Tankers Price Performance

Shares of STNG opened at $40.02 on Tuesday. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $84.67. The stock has a market capitalization of $2.04 billion, a P/E ratio of 3.07 and a beta of -0.12. The company has a 50 day moving average of $37.86 and a 200-day moving average of $44.32.

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

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s payout ratio is 15.76%.

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.