Charles Schwab Investment Management Inc. Sells 29,822 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Charles Schwab Investment Management Inc. decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,799 shares of the shipping company's stock after selling 29,822 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.46% of Scorpio Tankers worth $16,456,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its stake in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after buying an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Scorpio Tankers in the 3rd quarter valued at about $28,000. Fifth Third Bancorp boosted its position in shares of Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock valued at $34,000 after purchasing an additional 319 shares in the last quarter. Quarry LP grew its stake in shares of Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after purchasing an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

STNG has been the subject of a number of research reports. Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, November 14th. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $76.40.

Scorpio Tankers Stock Down 1.5 %

Shares of STNG stock traded down $0.75 on Friday, reaching $48.80. 636,043 shares of the company's stock traded hands, compared to its average volume of 911,607. The business's 50 day moving average price is $59.97 and its two-hundred day moving average price is $69.97. The company has a market capitalization of $2.47 billion, a P/E ratio of 3.50 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers Inc. has a 12-month low of $48.13 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business's revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.91 EPS. On average, equities analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.28%. Scorpio Tankers's payout ratio is 11.47%.

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.