Massachusetts Financial Services Co. MA Lowers Stake in Scorpio Tankers Inc. (NYSE:STNG)

Massachusetts Financial Services Co. MA decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,484 shares of the shipping company's stock after selling 14,452 shares during the period. Massachusetts Financial Services Co. MA's holdings in Scorpio Tankers were worth $1,068,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in shares of Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after buying an additional 181,135 shares in the last quarter. Norges Bank purchased a new stake in Scorpio Tankers during the fourth quarter valued at approximately $30,374,000. Public Employees Retirement System of Ohio bought a new stake in shares of Scorpio Tankers in the 3rd quarter valued at approximately $8,459,000. Geode Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock worth $54,768,000 after purchasing an additional 38,599 shares during the period. Finally, Barclays PLC increased its position in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after purchasing an additional 168,866 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Trading Down 3.1 %

Shares of STNG traded down $1.11 during trading hours on Monday, reaching $34.58. 67,544 shares of the company traded hands, compared to its average volume of 881,716. The stock's fifty day moving average price is $40.10 and its 200 day moving average price is $50.09. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 2.65 and a beta of -0.01. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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 net margin of 53.76% and a return on equity of 18.01%. Sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.63%. Scorpio Tankers's dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

Several research analysts have commented on STNG shares. Jefferies Financial Group reaffirmed a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus dropped their price target 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average 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.