Allspring Global Investments Holdings LLC Sells 20,760 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Allspring Global Investments Holdings LLC lowered its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 63.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,143 shares of the shipping company's stock after selling 20,760 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Scorpio Tankers were worth $608,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers in the third quarter valued at approximately $28,000. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% during 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. AM Squared Ltd acquired a new stake in shares of Scorpio Tankers during the third quarter worth $64,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Scorpio Tankers in the third quarter valued at $68,000. Finally, Quarry LP increased its stake in Scorpio Tankers by 103.5% in the third quarter. Quarry LP now owns 1,349 shares of the shipping company's stock valued at $96,000 after purchasing an additional 686 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Trading Up 1.0 %

Shares of STNG stock traded up $0.38 during mid-day trading on Friday, reaching $39.81. The company's stock had a trading volume of 1,329,329 shares, compared to its average volume of 1,050,096. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.01 billion, a PE ratio of 3.05 and a beta of 0.08. The company's 50 day simple moving average is $48.26 and its 200-day simple moving average is $57.67. Scorpio Tankers Inc. has a 12-month low of $38.55 and a 12-month high of $84.67.

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Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. On average, research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.02%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

Several research firms recently issued reports on STNG. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus decreased their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $68.75.

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.