Stifel Financial Corp Sells 15,953 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Stifel Financial Corp trimmed its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 74.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,387 shares of the shipping company's stock after selling 15,953 shares during the period. Stifel Financial Corp's holdings in Scorpio Tankers were worth $384,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of STNG. Truist Financial Corp increased its holdings in shares of Scorpio Tankers by 1.4% in the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company's stock worth $889,000 after acquiring an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after purchasing an additional 177 shares in the last quarter. Quarry LP raised its holdings in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after buying an additional 229 shares during the period. Segall Bryant & Hamill LLC lifted its stake in Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company's stock valued at $863,000 after buying an additional 252 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock valued at $25,000 after buying an additional 291 shares during the period. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Up 0.6 %

STNG traded up $0.28 on Friday, hitting $49.51. 1,458,868 shares of the company were exchanged, compared to its average volume of 922,741. The stock's fifty day moving average is $53.33 and its 200-day moving average is $66.73. Scorpio Tankers Inc. has a 12 month low of $45.94 and a 12 month high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company has a market cap of $2.50 billion, a PE ratio of 3.55 and a beta of 0.13.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million during the quarter, compared to the consensus estimate of $267.91 million. During the same quarter in the prior year, the firm posted $1.91 EPS. The firm's revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers's dividend payout ratio (DPR) is presently 11.47%.

Analyst Ratings Changes

Several equities research analysts recently commented on STNG shares. Evercore ISI cut 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. Bank of America cut their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their target price on Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating on the stock in a research report on Thursday, December 12th. Finally, Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research report on Friday, September 27th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $75.40.

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.