Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 35.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,753 shares of the shipping company's stock after selling 13,684 shares during the period. Sei Investments Co.'s holdings in Scorpio Tankers were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of STNG. Assenagon Asset Management S.A. grew its stake in shares of Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock worth $10,020,000 after purchasing an additional 181,135 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Scorpio Tankers during the 3rd quarter worth about $8,459,000. Geode Capital Management LLC boosted its position in shares of Scorpio Tankers by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company's stock worth $54,768,000 after acquiring an additional 38,599 shares in the last quarter. Barclays PLC increased its holdings in shares of Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after acquiring an additional 168,866 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Scorpio Tankers during the 4th quarter worth about $684,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on STNG shares. Jefferies Financial Group reaffirmed a "buy" rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus lowered their target price 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. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Stock Performance

STNG traded up $2.39 during trading on Friday, hitting $35.68. 910,402 shares of the stock were exchanged, compared to its average volume of 883,805. The firm has a market capitalization of $1.78 billion, a P/E ratio of 2.74 and a beta of -0.01. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The stock has a fifty day moving average price of $40.10 and a two-hundred day moving average price of $50.24. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS 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%. As a group, sell-side analysts predict 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. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.48%. Scorpio Tankers's payout ratio is 12.27%.

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.