LSV Asset Management Reduces Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

LSV Asset Management trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,936,109 shares of the shipping company's stock after selling 32,850 shares during the period. LSV Asset Management owned about 3.83% of Scorpio Tankers worth $96,205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Scorpio Tankers during the 3rd quarter valued at approximately $332,000. HighTower Advisors LLC increased its holdings in shares of Scorpio Tankers by 38.1% in the 3rd quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company's stock worth $857,000 after acquiring an additional 3,322 shares during the period. EP Wealth Advisors LLC acquired a new position in shares of Scorpio Tankers during the third quarter worth approximately $552,000. MML Investors Services LLC bought a new stake in shares of Scorpio Tankers during the third quarter valued at about $203,000. Finally, Y Intercept Hong Kong Ltd increased its stake in shares of Scorpio Tankers by 50.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 19,397 shares of the shipping company's stock valued at $1,383,000 after acquiring an additional 6,473 shares during the period. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on STNG shares. Stifel Nicolaus cut their price objective 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. Jefferies Financial Group restated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $68.75.

Scorpio Tankers Stock Up 1.5 %

Scorpio Tankers stock traded up $0.52 during midday trading on Wednesday, reaching $34.11. The stock had a trading volume of 143,923 shares, compared to its average volume of 881,996. The stock has a market capitalization of $1.70 billion, a P/E ratio of 2.62 and a beta of -0.01. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The firm's fifty day simple moving average is $39.50 and its 200-day simple moving average is $49.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

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

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.69%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is presently 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.