Cetera Investment Advisers Sells 19,398 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Cetera Investment Advisers decreased its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 63.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,364 shares of the shipping company's stock after selling 19,398 shares during the quarter. Cetera Investment Advisers' holdings in Scorpio Tankers were worth $565,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. U S Global Investors Inc. grew its stake in shares of Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock worth $253,000 after purchasing an additional 215 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. boosted 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 valued at $46,000 after acquiring an additional 266 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Scorpio Tankers by 0.7% during the 4th quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company's stock valued at $3,777,000 after acquiring an additional 559 shares in the last quarter. Finally, Gallacher Capital Management LLC lifted its holdings in Scorpio Tankers by 6.1% during the 4th quarter. Gallacher Capital Management LLC now owns 10,409 shares of the shipping company's stock worth $517,000 after buying an additional 603 shares during the period. Institutional investors own 54.64% of the company's stock.

Analysts Set New Price Targets

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

Scorpio Tankers Stock Performance

Shares of NYSE STNG traded down $0.32 during midday trading on Friday, reaching $39.79. The company's stock had a trading volume of 588,628 shares, compared to its average volume of 899,870. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $84.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The firm has a 50 day moving average price of $37.84 and a 200-day moving average price of $44.00. The stock has a market capitalization of $2.03 billion, a P/E ratio of 3.05 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results 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 firm had revenue of $204.20 million for the quarter, compared to the consensus estimate of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The business's quarterly revenue was down 45.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.97 earnings per share. As a group, equities analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.02%. Scorpio Tankers's payout ratio is currently 15.76%.

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.