Tejara Capital Ltd Decreases Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Tejara Capital Ltd trimmed its position in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 81.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,300 shares of the shipping company's stock after selling 109,390 shares during the period. Tejara Capital Ltd's holdings in Scorpio Tankers were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in STNG. GAMMA Investing LLC grew its position 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 during the period. Lindbrook Capital LLC grew its position in 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 purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. grew its position in Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Scorpio Tankers during the 3rd quarter worth about $68,000. Finally, EverSource Wealth Advisors LLC grew its position in Scorpio Tankers by 850.5% during 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 during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities research analysts have recently commented on STNG shares. Jefferies Financial Group restated a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus dropped their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Price Performance

Scorpio Tankers stock traded down $2.47 during midday trading on Friday, reaching $39.71. The company had a trading volume of 2,353,741 shares, compared to its average volume of 821,920. The company has a market capitalization of $2.01 billion, a P/E ratio of 3.05 and a beta of 0.01. Scorpio Tankers Inc. has a 12-month low of $37.14 and a 12-month high of $84.67. The firm's fifty day simple moving average is $44.91 and its 200-day simple moving average is $54.08. 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 (NYSE:STNG - Get Free Report) last issued 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%. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's dividend 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.