Nuveen Asset Management LLC Sells 82,645 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Nuveen Asset Management LLC lessened its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,243 shares of the shipping company's stock after selling 82,645 shares during the quarter. Nuveen Asset Management LLC owned about 0.19% of Scorpio Tankers worth $4,683,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock valued at $129,870,000 after buying an additional 1,899,981 shares during the last quarter. Cooper Creek Partners Management LLC raised its holdings in Scorpio Tankers by 380.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock valued at $109,098,000 after buying an additional 1,738,190 shares during the last quarter. Norges Bank bought a new position in Scorpio Tankers in the 4th quarter valued at approximately $30,374,000. Vanguard Group Inc. raised its holdings in Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock valued at $124,786,000 after buying an additional 458,120 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in Scorpio Tankers in the 4th quarter valued at approximately $14,426,000. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Trading Up 0.2%

Shares of STNG stock traded up $0.07 during trading hours on Wednesday, hitting $40.15. 553,409 shares of the company were exchanged, compared to its average volume of 897,772. The firm has a market cap of $2.05 billion, a P/E ratio of 3.08 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 debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company has a 50 day simple moving average of $37.93 and a two-hundred day simple moving average of $43.77.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping 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 company had revenue of $204.20 million during the quarter, compared to the consensus estimate of $205.89 million. During the same quarter last year, the firm posted $3.97 EPS. The company's quarterly revenue was down 45.3% on a year-over-year basis. Equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers's dividend payout ratio is currently 15.76%.

Analysts Set New Price Targets

A number of research firms have weighed in on STNG. Jefferies Financial Group reissued a "buy" rating and set a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Evercore ISI decreased their target price 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. Finally, Fearnley Fonds raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

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.