Ameriprise Financial Inc. lessened its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 91.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,936 shares of the shipping company's stock after selling 63,454 shares during the period. Ameriprise Financial Inc.'s holdings in Scorpio Tankers were worth $295,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of STNG. Lindbrook Capital LLC grew 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 acquiring an additional 263 shares during the period. Covestor Ltd grew its holdings in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after acquiring an additional 770 shares during the period. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 266 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of 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 acquiring an additional 876 shares during the period. Finally, Kohmann Bosshard Financial Services LLC purchased a new position in shares of Scorpio Tankers during the 4th quarter worth approximately $99,000. Institutional investors own 54.64% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently commented on the company. Evercore ISI dropped their price target on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their price objective 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. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.
Read Our Latest Analysis on STNG
Scorpio Tankers Trading Up 0.1%
Shares of NYSE STNG traded up $0.03 during trading hours on Monday, reaching $39.71. The stock had a trading volume of 594,134 shares, compared to its average volume of 897,000. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.05 and a beta of -0.04. The business's fifty day moving average price is $38.05 and its two-hundred day moving average price is $43.32. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67.
Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. The company had revenue of $204.20 million during the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Scorpio Tankers's revenue for the quarter was down 45.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.97 earnings per share. Analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.
Scorpio Tankers Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be 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 of this dividend is Friday, May 30th. Scorpio Tankers's dividend payout ratio (DPR) is 15.76%.
Scorpio Tankers Company Profile
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Free Report)
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.
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