International Assets Investment Management LLC Sells 1,845,958 Shares of Scorpio Tankers Inc. (NYSE:STNG)

International Assets Investment Management LLC cut its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 98.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,230 shares of the shipping company's stock after selling 1,845,958 shares during the quarter. International Assets Investment Management LLC owned about 0.07% of Scorpio Tankers worth $1,713,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in STNG. Truist Financial Corp raised its stake in Scorpio Tankers by 1.4% in the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company's stock valued at $889,000 after acquiring an additional 149 shares during the period. Newbridge Financial Services Group Inc. lifted its stake in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock valued at $57,000 after buying an additional 177 shares in the last quarter. Quarry LP boosted its holdings in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after buying an additional 229 shares during the period. Segall Bryant & Hamill LLC grew its stake in Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company's stock valued at $863,000 after buying an additional 252 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

Shares of STNG traded down $0.52 during trading hours on Thursday, reaching $52.34. 967,452 shares of the company's stock traded hands, compared to its average volume of 1,068,990. Scorpio Tankers Inc. has a 12 month low of $45.94 and a 12 month high of $84.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.64 billion, a PE ratio of 3.75 and a beta of 0.12. The firm's 50 day simple moving average is $51.45 and its 200-day simple moving average is $65.00.

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 the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million during the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. Equities analysts expect that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.06%. Scorpio Tankers's payout ratio is 11.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on STNG shares. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a report on Friday, September 27th. Bank of America cut their target price 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 decreased their price target on Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Evercore ISI cut their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $75.40.

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.