Arrowstreet Capital Limited Partnership Sells 86,695 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Arrowstreet Capital Limited Partnership cut its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 11.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 654,970 shares of the shipping company's stock after selling 86,695 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.30% of Scorpio Tankers worth $32,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STNG. U S Global Investors Inc. boosted its holdings in shares of Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock valued at $253,000 after buying an additional 215 shares during the period. Lindbrook Capital LLC lifted its position in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after acquiring an additional 263 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after acquiring an additional 266 shares in the last quarter. GAMMA Investing LLC boosted its stake in Scorpio Tankers by 204.1% in 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. Finally, Rhumbline Advisers raised its stake in shares of Scorpio Tankers by 0.7% in the 4th quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock valued at $3,777,000 after purchasing an additional 559 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

STNG has been the topic of a number of research reports. Jefferies Financial Group restated a "buy" rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Stock Up 11.1 %

Shares of NYSE STNG traded up $3.53 during mid-day trading on Monday, hitting $35.39. The company had a trading volume of 2,344,295 shares, compared to its average volume of 878,982. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a 50-day simple moving average of $41.77 and a two-hundred day simple moving average of $51.47. The company has a market capitalization of $1.77 billion, a PE ratio of 2.71 and a beta of -0.01. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates 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, equities analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.52%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is currently 12.27%.

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.