Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 99.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 698 shares of the shipping company’s stock after selling 117,941 shares during the period. Public Employees Retirement System of Ohio’s holdings in Scorpio Tankers were worth $35,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of Scorpio Tankers by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company’s stock valued at $174,512,000 after purchasing an additional 10,854 shares in the last quarter. FMR LLC boosted its position in shares of Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock valued at $124,786,000 after purchasing an additional 458,120 shares in the last quarter. Cooper Creek Partners Management LLC boosted its position in shares of Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after purchasing an additional 1,738,190 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock valued at $77,437,000 after purchasing an additional 153,267 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG opened at $39.70 on Friday. The company has a 50-day moving average of $38.00 and a two-hundred day moving average of $43.56. 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 stock has a market cap of $2.03 billion, a price-to-earnings ratio of 3.04 and a beta of -0.12. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.32. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The firm’s revenue was down 45.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.97 earnings per share. On average, equities research analysts expect 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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio (DPR) is 15.76%.

Analysts Set New Price Targets

STNG has been the subject of several recent analyst reports. Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Stifel Nicolaus decreased their target price 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 reiterated a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a report on Thursday, May 1st. Finally, Evercore ISI decreased their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $60.50.

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.