6,091 Shares in Scorpio Tankers Inc. (NYSE:STNG) Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC acquired a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,091 shares of the shipping company's stock, valued at approximately $303,000.

A number of other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. grew its position in shares of Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after buying an additional 181,135 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in Scorpio Tankers in the third quarter valued at approximately $8,459,000. Mountaineer Partners Management LLC grew its holdings in shares of Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Barclays PLC raised its position in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after purchasing an additional 168,866 shares during the period. Finally, Independent Advisor Alliance bought a new stake in shares of Scorpio Tankers in the 3rd quarter worth approximately $2,221,000. Institutional investors own 54.64% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on STNG shares. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group dropped their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating on the stock in a report on Thursday, December 12th. 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 research note on Wednesday, October 30th. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, Scorpio Tankers currently has an average rating of "Hold" and an average target price of $72.75.

Scorpio Tankers Stock Performance

Shares of NYSE STNG traded up $2.15 during midday trading on Tuesday, reaching $50.10. 1,103,106 shares of the company traded hands, compared to its average volume of 1,113,932. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 3.59 and a beta of 0.08. The stock has a 50-day moving average price of $49.82 and a 200 day moving average price of $61.05. Scorpio Tankers Inc. has a 52 week low of $45.43 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

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.