Bank of New York Mellon Corp Sells 18,650 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Bank of New York Mellon Corp decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 12.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,945 shares of the shipping company's stock after selling 18,650 shares during the period. Bank of New York Mellon Corp owned approximately 0.26% of Scorpio Tankers worth $6,457,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of STNG. Mountaineer Partners Management LLC boosted its stake in shares of Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock worth $596,912,000 after acquiring an additional 8,252,691 shares during the period. Geode Capital Management LLC boosted its position in Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock worth $54,768,000 after purchasing an additional 38,599 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after purchasing an additional 181,135 shares during the period. TCW Group Inc. lifted its stake in shares of Scorpio Tankers by 8.2% during the 4th quarter. TCW Group Inc. now owns 190,692 shares of the shipping company's stock worth $9,475,000 after buying an additional 14,500 shares during the last quarter. Finally, Barclays PLC lifted its position in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after acquiring an additional 168,866 shares during the last quarter. Institutional investors own 54.64% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages have recently weighed in on STNG. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus reduced their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Four equities 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, the company presently has an average rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Trading Up 1.9 %

STNG traded up $0.76 during trading on Monday, hitting $40.33. The company's stock had a trading volume of 752,402 shares, compared to its average volume of 814,815. 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 $37.14 and a twelve month high of $84.67. The stock's fifty day moving average price is $46.03 and its 200-day moving average price is $54.90. The firm has a market capitalization of $2.04 billion, a P/E ratio of 3.09 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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%. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers's dividend payout ratio is presently 12.27%.

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.