Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 70.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,815 shares of the shipping company's stock after selling 23,246 shares during the period. Harvey Capital Management Inc.'s holdings in Scorpio Tankers were worth $488,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Savant Capital LLC acquired a new stake in shares of Scorpio Tankers during the 4th quarter worth about $346,000. Empowered Funds LLC purchased a new position in shares of Scorpio Tankers in the 4th quarter valued at approximately $5,621,000. Bleakley Financial Group LLC grew its stake in shares of Scorpio Tankers by 218.5% in the 4th quarter. Bleakley Financial Group LLC now owns 26,250 shares of the shipping company's stock valued at $1,304,000 after purchasing an additional 18,007 shares during the last quarter. EMC Capital Management grew its stake in shares of Scorpio Tankers by 61.5% in the 4th quarter. EMC Capital Management now owns 2,717 shares of the shipping company's stock valued at $135,000 after purchasing an additional 1,035 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Scorpio Tankers by 102.3% in the 4th quarter. Blue Trust Inc. now owns 6,631 shares of the shipping company's stock valued at $329,000 after purchasing an additional 3,354 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Trading Down 1.2 %

STNG stock traded down $0.53 during trading on Friday, reaching $44.13. 1,147,005 shares of the stock traded hands, compared to its average volume of 1,023,026. The business's 50 day moving average price is $49.33 and its 200-day moving average price is $59.71. Scorpio Tankers Inc. has a 52-week low of $43.32 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. The firm has a market capitalization of $2.23 billion, a PE ratio of 3.16 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. As a group, sell-side analysts forecast that Scorpio Tankers Inc. will post 9.88 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is 11.47%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America reduced their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday. Stifel Nicolaus cut their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday. Finally, Evercore ISI lowered their price objective on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $68.75.

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.