Assenagon Asset Management S.A. Sells 150,511 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Assenagon Asset Management S.A. cut its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 74.6% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,142 shares of the shipping company's stock after selling 150,511 shares during the period. Assenagon Asset Management S.A. owned about 0.10% of Scorpio Tankers worth $1,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of STNG. Lindbrook Capital LLC raised its holdings in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after acquiring an additional 263 shares in the last quarter. Covestor Ltd raised its position in Scorpio Tankers by 1,375.0% in the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after buying an additional 770 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings 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 grew its holdings in shares of 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, Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Scorpio Tankers during the 4th quarter valued at about $99,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Trading Up 0.2%

STNG traded up $0.09 during trading hours on Thursday, reaching $44.32. 1,392,563 shares of the company's stock traded hands, compared to its average volume of 902,761. The firm has a 50-day moving average price of $39.23 and a 200 day moving average price of $43.01. The company has a quick ratio of 4.12, a current ratio of 4.20 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.26 billion, a PE ratio of 4.37 and a beta of -0.04. 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 announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.32. The company had revenue of $204.20 million for the quarter, compared to analysts' expectations of $205.89 million. Scorpio Tankers had a return on equity of 12.30% and a net margin of 48.08%. Scorpio Tankers's revenue was down 45.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.97 earnings per share. As a group, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio (DPR) is 15.76%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group reiterated a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

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.