Platinum Investment Management Ltd. Decreases Stake in Scorpio Tankers Inc. (NYSE:STNG)

Platinum Investment Management Ltd. cut its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 402,043 shares of the shipping company's stock after selling 43,133 shares during the period. Scorpio Tankers comprises approximately 1.2% of Platinum Investment Management Ltd.'s investment portfolio, making the stock its 20th biggest position. Platinum Investment Management Ltd. owned 0.80% of Scorpio Tankers worth $19,978,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of STNG. GAMMA Investing LLC increased its position in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after acquiring an additional 402 shares during the period. Lindbrook Capital LLC lifted its holdings in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after buying an additional 263 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after buying an additional 266 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Scorpio Tankers during the third quarter worth about $68,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after acquiring an additional 876 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

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Scorpio Tankers Stock Down 5.9 %

Shares of STNG traded down $2.47 during trading hours on Friday, hitting $39.71. The stock had a trading volume of 2,353,741 shares, compared to its average volume of 823,585. Scorpio Tankers Inc. has a 1-year low of $37.14 and a 1-year high of $84.67. The firm has a market capitalization of $2.01 billion, a P/E ratio of 3.05 and a beta of 0.01. The firm has a 50 day simple moving average of $44.91 and a 200-day simple moving average of $53.98. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.03%. Scorpio Tankers's payout ratio is 12.27%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STNG shares. Stifel Nicolaus lowered their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Jefferies Financial Group reaffirmed a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers presently has an average rating of "Hold" and an average price target of $68.75.

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.