Envestnet Asset Management Inc. Sells 23,179 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Envestnet Asset Management Inc. cut its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 71.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,360 shares of the shipping company's stock after selling 23,179 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Scorpio Tankers were worth $465,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of 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 during the last quarter. Lindbrook Capital LLC raised its stake in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after buying an additional 263 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Scorpio Tankers by 40.1% in the fourth 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 last quarter. EverSource Wealth Advisors LLC raised its position in Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after acquiring an additional 876 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Scorpio Tankers in the 3rd quarter worth approximately $68,000. Institutional investors own 54.64% of the company's stock.

Analysts Set New Price Targets

STNG has been the subject of a number of research reports. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Jefferies Financial Group restated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Stifel Nicolaus cut their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Evercore ISI decreased their price objective on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Scorpio Tankers presently has a consensus rating of "Moderate Buy" and an average target price of $60.50.

Scorpio Tankers Trading Up 0.2 %

NYSE:STNG traded up $0.09 on Friday, hitting $40.77. 172,977 shares of the stock were exchanged, compared to its average volume of 900,877. The stock has a fifty day moving average of $37.41 and a 200-day moving average of $46.17. The stock has a market cap of $2.08 billion, a PE ratio of 3.13 and a beta of -0.12. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The firm had revenue of $204.20 million for the quarter, compared to analysts' expectations of $205.89 million. During the same quarter last year, the company earned $3.97 EPS. Scorpio Tankers's quarterly revenue was down 45.3% on a year-over-year basis. As a group, equities 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 declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.92%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio is currently 15.76%.

Scorpio Tankers 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.