New York State Common Retirement Fund Sells 92,336 Shares of Scorpio Tankers Inc. (NYSE:STNG)

New York State Common Retirement Fund lessened its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 86.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,501 shares of the shipping company's stock after selling 92,336 shares during the period. New York State Common Retirement Fund's holdings in Scorpio Tankers were worth $721,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the third quarter worth about $28,000. GAMMA Investing LLC boosted its stake in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after buying an additional 402 shares in the last quarter. AM Squared Ltd bought a new position in Scorpio Tankers during the third quarter valued at approximately $64,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Scorpio Tankers during the third quarter worth approximately $68,000. Finally, Quarry LP lifted its holdings in shares of Scorpio Tankers by 103.5% in the 3rd quarter. Quarry LP now owns 1,349 shares of the shipping company's stock worth $96,000 after acquiring an additional 686 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STNG. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. 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 company currently has an average rating of "Hold" and a consensus target price of $68.75.

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Scorpio Tankers Stock Up 1.5 %

Shares of STNG stock traded up $0.61 during mid-day trading on Friday, hitting $40.23. The company's stock had a trading volume of 328,296 shares, compared to its average volume of 1,043,608. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 3.09 and a beta of 0.01. 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 Inc. has a 52-week low of $38.03 and a 52-week high of $84.67. The business has a 50-day moving average price of $47.31 and a 200 day moving average price of $56.47.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share 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%. Research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's payout ratio is 12.27%.

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.