Healthcare of Ontario Pension Plan Trust Fund Reduces Position in Scorpio Tankers Inc. (NYSE:STNG)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 46.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,100 shares of the shipping company's stock after selling 85,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned 0.18% of Scorpio Tankers worth $7,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in Scorpio Tankers by 74.6% in the 4th quarter. Hsbc Holdings PLC now owns 19,098 shares of the shipping company's stock worth $1,157,000 after buying an additional 8,157 shares during the period. KBC Group NV boosted its holdings in Scorpio Tankers by 14.1% in the fourth quarter. KBC Group NV now owns 4,836 shares of the shipping company's stock valued at $294,000 after acquiring an additional 596 shares in the last quarter. Vinva Investment Management Ltd bought a new stake in Scorpio Tankers in the fourth quarter valued at $444,000. Epoch Investment Partners Inc. increased its position in Scorpio Tankers by 0.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company's stock valued at $1,379,000 after purchasing an additional 150 shares during the period. Finally, Clear Street Markets LLC bought a new position in Scorpio Tankers in the 4th quarter worth $2,985,000. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Price Performance

Shares of STNG stock traded down $1.37 on Friday, hitting $72.94. 488,282 shares of the stock traded hands, compared to its average volume of 687,308. Scorpio Tankers Inc. has a 52 week low of $49.11 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 6.77, a PEG ratio of 2.00 and a beta of 0.15. The firm has a 50 day simple moving average of $71.41 and a two-hundred day simple moving average of $74.64.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million for the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.41 earnings per share. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 12.71 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were given a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a yield of 2.19%. Scorpio Tankers's dividend payout ratio is presently 14.84%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on STNG. Bank of America reduced their price objective on Scorpio Tankers from $85.00 to $82.00 and set a "neutral" rating for the company in a research report on Tuesday, July 23rd. Evercore ISI lifted their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 23rd. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Stifel Nicolaus lifted their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.80.

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.