J. Safra Sarasin Holding AG Decreases Stake in Scorpio Tankers Inc. (NYSE:STNG)

J. Safra Sarasin Holding AG decreased its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 47.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,769 shares of the shipping company's stock after selling 8,826 shares during the quarter. J. Safra Sarasin Holding AG's holdings in Scorpio Tankers were worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Scorpio Tankers by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock worth $174,512,000 after acquiring an additional 10,854 shares in the last quarter. FMR LLC lifted its stake in shares of Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock valued at $129,870,000 after purchasing an additional 1,899,981 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock worth $124,786,000 after purchasing an additional 458,120 shares during the period. Cooper Creek Partners Management LLC increased its position in shares of Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock valued at $77,437,000 after buying an additional 153,267 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STNG has been the subject of several recent analyst reports. Stifel Nicolaus dropped their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Finally, Evercore ISI decreased their price objective on shares of Scorpio Tankers from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Scorpio Tankers presently has an average rating of "Hold" and a consensus target price of $63.75.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $35.23 on Thursday. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 2.70 and a beta of -0.01. The firm has a 50-day moving average of $38.07 and a two-hundred day moving average of $48.31. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (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%. On average, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.54%. Scorpio Tankers's dividend payout ratio is currently 12.27%.

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.

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