Renaissance Technologies LLC Sells 239,500 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Renaissance Technologies LLC lowered its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 18.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,092,515 shares of the shipping company's stock after selling 239,500 shares during the period. Renaissance Technologies LLC owned about 2.16% of Scorpio Tankers worth $54,287,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STNG. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% in 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 during the period. Lindbrook Capital LLC boosted its stake in shares of 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 acquiring an additional 263 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock valued at $46,000 after acquiring an additional 266 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Scorpio Tankers in the 3rd quarter worth $68,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Scorpio Tankers by 850.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after purchasing an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stifel Nicolaus cut their price target on 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 reiterated a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four 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 presently has an average rating of "Hold" and a consensus price target of $68.75.

Scorpio Tankers Price Performance

Shares of NYSE:STNG traded down $0.63 during trading on Tuesday, hitting $33.70. 235,979 shares of the company's stock were exchanged, compared to its average volume of 882,071. The business's 50-day simple moving average is $39.80 and its 200 day simple moving average is $49.83. 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 Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 2.58 and a beta of -0.01.

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 (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, equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers's payout ratio is presently 12.27%.

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.