Scorpio Tankers Inc. (NYSE:STNG) Holdings Reduced by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 16.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 100,214 shares of the shipping company's stock after selling 19,339 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Scorpio Tankers worth $4,980,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. U S Global Investors Inc. grew its position in Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock worth $253,000 after acquiring an additional 215 shares during the period. Lindbrook Capital LLC raised its stake in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after acquiring an additional 263 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in 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 purchasing an additional 266 shares during the period. GAMMA Investing LLC grew its stake in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Finally, Rhumbline Advisers increased its holdings in Scorpio Tankers by 0.7% during the 4th quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock worth $3,777,000 after purchasing an additional 559 shares during the period. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Performance

Shares of STNG traded up $1.17 during mid-day trading on Friday, hitting $35.30. 481,932 shares of the company's stock were exchanged, compared to its average volume of 884,592. The firm has a market capitalization of $1.76 billion, a P/E ratio of 2.71 and a beta of -0.01. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The business's 50 day moving average is $38.99 and its two-hundred day moving average is $49.36. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67.

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

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.53%. Scorpio Tankers's payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Jefferies Financial Group reissued a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $68.75.

About Scorpio Tankers

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.