Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Fmr LLC

FMR LLC lessened its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 37.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 713,630 shares of the shipping company's stock after selling 426,954 shares during the quarter. FMR LLC owned approximately 1.41% of Scorpio Tankers worth $50,882,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STNG. Cetera Investment Advisers acquired a new position in Scorpio Tankers in the 1st quarter valued at about $2,107,000. Versor Investments LP grew its holdings in Scorpio Tankers by 359.0% in the 3rd quarter. Versor Investments LP now owns 16,803 shares of the shipping company's stock valued at $1,198,000 after buying an additional 13,142 shares during the period. Independent Advisor Alliance purchased a new stake in Scorpio Tankers in the 3rd quarter valued at about $2,221,000. Assenagon Asset Management S.A. purchased a new stake in Scorpio Tankers in the 2nd quarter valued at about $1,098,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Scorpio Tankers by 222.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 28,339 shares of the shipping company's stock valued at $2,304,000 after buying an additional 19,562 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. StockNews.com cut Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Jefferies Financial Group decreased their target price on Scorpio Tankers from $90.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Evercore ISI decreased their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus cut 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 report on Wednesday, October 23rd. Finally, Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $76.40.

Scorpio Tankers Stock Down 1.5 %

Scorpio Tankers stock traded down $0.75 during midday trading on Friday, hitting $48.80. 636,043 shares of the company were exchanged, compared to its average volume of 911,607. The company's fifty day moving average price is $59.97 and its 200-day moving average price is $70.05. The company has a market cap of $2.47 billion, a PE ratio of 3.50 and a beta of 0.13. 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 Inc. has a fifty-two week low of $48.13 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results 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. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same period in the prior year, the company posted $1.91 EPS. Scorpio Tankers's quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers's payout ratio is 11.47%.

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.