Scorpio Tankers Inc. (NYSE:STNG) Position Cut by Versor Investments LP

Versor Investments LP lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 57.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,157 shares of the shipping company's stock after selling 9,646 shares during the period. Versor Investments LP's holdings in Scorpio Tankers were worth $356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new position in Scorpio Tankers in the third quarter valued at about $28,000. GAMMA Investing LLC raised its stake in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after buying an additional 402 shares in the last quarter. AM Squared Ltd acquired a new stake in Scorpio Tankers during the third quarter valued at approximately $64,000. Wilmington Savings Fund Society FSB acquired a new stake in Scorpio Tankers during the third quarter valued at approximately $68,000. Finally, Quarry LP raised its stake in Scorpio Tankers by 103.5% during the third quarter. Quarry LP now owns 1,349 shares of the shipping company's stock valued at $96,000 after buying an additional 686 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on STNG shares. Stifel Nicolaus cut their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group restated 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $68.75.

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Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock traded up $0.45 on Thursday, reaching $39.71. 333,416 shares of the company were exchanged, compared to its average volume of 1,046,137. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company's 50-day moving average is $47.49 and its two-hundred day moving average is $56.59. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 3.05 and a beta of 0.01. Scorpio Tankers Inc. has a 1-year low of $38.03 and a 1-year 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 return on equity of 18.01% and a net margin of 53.76%. As a group, research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is 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.