Moody Aldrich Partners LLC Sells 82,042 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Moody Aldrich Partners LLC lessened its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 72.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,600 shares of the shipping company's stock after selling 82,042 shares during the quarter. Moody Aldrich Partners LLC owned about 0.06% of Scorpio Tankers worth $2,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STNG. AlphaMark Advisors LLC raised its holdings in Scorpio Tankers by 5.9% during the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company's stock worth $358,000 after buying an additional 281 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Scorpio Tankers by 320.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,777 shares of the shipping company's stock valued at $628,000 after acquiring an additional 6,690 shares in the last quarter. Norden Group LLC acquired a new position in Scorpio Tankers during the 1st quarter valued at about $279,000. BNP Paribas Financial Markets increased its holdings in Scorpio Tankers by 37.0% during the 1st quarter. BNP Paribas Financial Markets now owns 88,827 shares of the shipping company's stock worth $6,356,000 after purchasing an additional 23,975 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Scorpio Tankers in the first quarter worth approximately $596,000. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Stock Performance

Shares of STNG stock traded down $0.25 during trading hours on Thursday, hitting $61.33. 745,311 shares of the company were exchanged, compared to its average volume of 907,299. Scorpio Tankers Inc. has a 52-week low of $52.68 and a 52-week high of $84.67. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $69.55 and a 200 day simple moving average of $74.21. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 5.69, a P/E/G ratio of 1.81 and a beta of 0.15.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. During the same period in the previous year, the company posted $2.41 earnings per share. The business's revenue was up 15.6% on a year-over-year basis. Research analysts predict that Scorpio Tankers Inc. will post 12.43 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.61%. Scorpio Tankers's payout ratio is 14.84%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on STNG shares. StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, August 16th. Bank of America lowered their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating for the company in a report on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Finally, Evercore ISI upped their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $82.40.

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.