Cetera Investment Advisers Trims Stock Holdings in Scorpio Tankers Inc. $STNG

Cetera Investment Advisers trimmed its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 27.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,211 shares of the shipping company’s stock after selling 3,153 shares during the period. Cetera Investment Advisers’ holdings in Scorpio Tankers were worth $309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of STNG. Signaturefd LLC grew its stake in Scorpio Tankers by 95.6% in the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock valued at $29,000 after buying an additional 372 shares in the last quarter. Rossby Financial LCC purchased a new position in Scorpio Tankers in the 1st quarter valued at approximately $165,000. CWM LLC grew its stake in Scorpio Tankers by 180.3% in the 1st quarter. CWM LLC now owns 4,959 shares of the shipping company’s stock valued at $186,000 after buying an additional 3,190 shares in the last quarter. Sherbrooke Park Advisers LLC grew its stake in Scorpio Tankers by 28.3% in the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company’s stock valued at $200,000 after buying an additional 889 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in Scorpio Tankers by 1,652.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,626 shares of the shipping company’s stock valued at $230,000 after buying an additional 4,362 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

NYSE STNG opened at $45.6350 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.83 and a current ratio of 4.95. The company has a market capitalization of $2.33 billion, a P/E ratio of 6.22 and a beta of -0.03. The company has a fifty day moving average of $43.88 and a 200-day moving average of $41.20. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $74.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.38. The business had revenue of $222.76 million during the quarter, compared to the consensus estimate of $219.26 million. Scorpio Tankers had a net margin of 39.18% and a return on equity of 8.08%. The firm’s revenue for the quarter was down 39.5% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 earnings per share. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Wednesday, August 13th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.60 annualized dividend and a yield of 3.5%. Scorpio Tankers’s payout ratio is currently 21.80%.

Wall Street Analysts Forecast Growth

STNG has been the subject of a number of recent research reports. Evercore ISI reduced their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group restated a “buy” rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 30th. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $60.50.

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.