Citigroup Inc. Has $4.18 Million Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Citigroup Inc. lifted its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 120.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,576 shares of the shipping company's stock after acquiring an additional 31,960 shares during the quarter. Citigroup Inc. owned approximately 0.12% of Scorpio Tankers worth $4,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of STNG. LSV Asset Management lifted its holdings in Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company's stock worth $162,222,000 after buying an additional 156,414 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company's stock worth $134,057,000 after buying an additional 1,857,668 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Scorpio Tankers by 5.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company's stock worth $106,800,000 after buying an additional 62,600 shares in the last quarter. American Century Companies Inc. lifted its holdings in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company's stock worth $96,391,000 after buying an additional 199,858 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company's stock worth $61,574,000 after buying an additional 549,395 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

Shares of STNG traded down $1.60 during mid-day trading on Wednesday, hitting $50.17. 1,304,854 shares of the company's stock were exchanged, compared to its average volume of 921,977. Scorpio Tankers Inc. has a 52 week low of $49.16 and a 52 week high of $84.67. The stock's 50-day simple moving average is $61.24 and its 200-day simple moving average is $70.66. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 3.65 and a beta of 0.13. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

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

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.40 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.19%. Scorpio Tankers's dividend payout ratio (DPR) is 11.47%.

Wall Street Analyst Weigh In

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

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.