Nisa Investment Advisors LLC Sells 72,955 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Nisa Investment Advisors LLC trimmed its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 98.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,481 shares of the shipping company's stock after selling 72,955 shares during the quarter. Nisa Investment Advisors LLC's holdings in Scorpio Tankers were worth $106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 291 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock valued at $34,000 after purchasing an additional 319 shares in the last quarter. Quarry LP boosted its position in shares of Scorpio Tankers by 52.8% in the second 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. Newbridge Financial Services Group Inc. grew its holdings in shares of Scorpio Tankers by 34.2% during the second 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. Finally, Headlands Technologies LLC raised its position in Scorpio Tankers by 1,912.2% during the second quarter. Headlands Technologies LLC now owns 986 shares of the shipping company's stock valued at $80,000 after buying an additional 937 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 1.4 %

NYSE STNG traded down $0.78 during trading on Friday, reaching $54.67. The company's stock had a trading volume of 1,063,519 shares, compared to its average volume of 920,360. 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 capitalization of $2.76 billion, a PE ratio of 3.92 and a beta of 0.18. Scorpio Tankers Inc. has a 1-year low of $52.68 and a 1-year high of $84.67. The business has a 50-day moving average price of $66.65 and a 200-day moving average price of $73.28.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data 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 quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 EPS. On average, research analysts forecast that Scorpio Tankers Inc. will post 11.13 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.93%. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Analyst Ratings Changes

STNG has been the subject of a number of research reports. Evercore ISI decreased their price objective on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Bank of America decreased their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Finally, Jefferies Financial Group restated a "buy" rating and set a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $78.40.

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.