Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. cut its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 47.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,481 shares of the shipping company's stock after selling 15,558 shares during the period. Federated Hermes Inc.'s holdings in Scorpio Tankers were worth $869,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aviva PLC raised its stake in shares of Scorpio Tankers by 30.3% during the 4th quarter. Aviva PLC now owns 12,040 shares of the shipping company's stock worth $598,000 after buying an additional 2,800 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Scorpio Tankers during the 4th quarter valued at about $275,000. Franklin Resources Inc. raised its position in Scorpio Tankers by 28.1% during the fourth quarter. Franklin Resources Inc. now owns 73,409 shares of the shipping company's stock worth $3,648,000 after acquiring an additional 16,116 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Scorpio Tankers in the fourth quarter valued at about $559,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Scorpio Tankers in the fourth quarter valued at about $214,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 3.2 %

Shares of NYSE:STNG traded down $1.12 during trading on Monday, reaching $34.21. The stock had a trading volume of 609,656 shares, compared to its average volume of 884,686. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The stock has a market cap of $1.71 billion, a P/E ratio of 2.62 and a beta of -0.01. The business has a fifty day moving average price of $38.45 and a 200-day moving average price of $48.50. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. As a group, analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.68%. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STNG. Jefferies Financial Group reissued a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price target on 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 investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, Scorpio Tankers currently has a consensus rating of "Hold" and a consensus price target of $68.75.

About Scorpio Tankers

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.