Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,161 shares of the shipping company's stock after selling 36,638 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.38% of Scorpio Tankers worth $9,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mountaineer Partners Management LLC grew its stake in 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 purchasing an additional 8,252,691 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 buying an additional 38,599 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock worth $10,020,000 after buying an additional 181,135 shares during the period. TCW Group Inc. raised its holdings in Scorpio Tankers by 8.2% in the fourth quarter. TCW Group Inc. now owns 190,692 shares of the shipping company's stock valued at $9,475,000 after acquiring an additional 14,500 shares in the last quarter. Finally, Barclays PLC lifted its stake in Scorpio Tankers by 873.6% in 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. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

A number of equities analysts recently commented on STNG shares. Stifel Nicolaus lowered 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 note on Friday, February 14th. Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Price Performance

Shares of STNG traded up $0.17 during mid-day trading on Wednesday, reaching $39.29. 808,222 shares of the company's stock were exchanged, compared to its average volume of 825,281. 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 52-week low of $37.14 and a 52-week high of $84.67. The company has a market cap of $1.99 billion, a price-to-earnings ratio of 3.01 and a beta of 0.01. The company has a 50-day simple moving average of $44.23 and a two-hundred day simple moving average of $53.48.

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

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.07%. Scorpio Tankers's payout ratio is 12.27%.

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.