Royce & Associates LP Sells 9,550 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Royce & Associates LP cut its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,658 shares of the shipping company's stock after selling 9,550 shares during the quarter. Royce & Associates LP owned 0.30% of Scorpio Tankers worth $10,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new stake in Scorpio Tankers in the 1st quarter worth $596,000. SG Americas Securities LLC grew its stake in shares of Scorpio Tankers by 91.4% in the first quarter. SG Americas Securities LLC now owns 6,334 shares of the shipping company's stock worth $453,000 after purchasing an additional 3,025 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Scorpio Tankers by 6.9% in the first quarter. Russell Investments Group Ltd. now owns 152,794 shares of the shipping company's stock worth $10,932,000 after purchasing an additional 9,913 shares during the last quarter. ProShare Advisors LLC increased its holdings in Scorpio Tankers by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 8,587 shares of the shipping company's stock valued at $614,000 after purchasing an additional 676 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in Scorpio Tankers by 4.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,742 shares of the shipping company's stock valued at $1,055,000 after purchasing an additional 640 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Down 2.3 %

Shares of NYSE:STNG traded down $1.24 during midday trading on Friday, reaching $53.73. The company's stock had a trading volume of 777,517 shares, compared to its average volume of 1,062,212. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average of $65.18 and a 200-day moving average of $72.69. The firm has a market capitalization of $2.71 billion, a P/E ratio of 3.85 and a beta of 0.18. Scorpio Tankers Inc. has a 12-month low of $52.68 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analysts' expectations of $267.91 million. During the same quarter in the prior year, the company earned $1.91 earnings per share. The business's revenue was down 8.0% compared to the same quarter last year. On average, research analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on STNG shares. Stifel Nicolaus cut Scorpio Tankers from a "buy" rating to a "hold" rating and reduced their target price for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI reduced their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Fearnley Fonds raised shares of Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, August 16th. Finally, 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 research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Scorpio Tankers has a consensus rating of "Hold" and an average price target of $76.40.

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.