Alliancebernstein L.P. Sells 35,530 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Alliancebernstein L.P. cut its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 39.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,210 shares of the shipping company's stock after selling 35,530 shares during the quarter. Alliancebernstein L.P. owned approximately 0.11% of Scorpio Tankers worth $2,743,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STNG. GAMMA Investing LLC raised its position 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 acquiring an additional 402 shares in the last quarter. Lindbrook Capital LLC boosted its holdings 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 buying an additional 263 shares in 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 worth $46,000 after buying an additional 266 shares during the period. 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 valued at $49,000 after acquiring an additional 876 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Scorpio Tankers in the 3rd quarter valued at $68,000. Institutional investors own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of 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 reissued a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Stock Up 3.4 %

Shares of NYSE:STNG traded up $1.17 during midday trading on Friday, hitting $35.30. 481,932 shares of the company's stock were exchanged, compared to its average volume of 885,791. 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 12 month low of $30.63 and a 12 month high of $84.67. The company has a market cap of $1.76 billion, a PE ratio of 2.71 and a beta of -0.01. The stock has a 50 day moving average price of $38.73 and a 200-day moving average price of $48.77.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 18.01% and a net margin of 53.76%. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal 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. This represents a $1.60 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers's dividend payout ratio is presently 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.