BNP Paribas Financial Markets Sells 31,628 Shares of Scorpio Tankers Inc. (NYSE:STNG)

BNP Paribas Financial Markets reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 59.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,783 shares of the shipping company's stock after selling 31,628 shares during the period. BNP Paribas Financial Markets' holdings in Scorpio Tankers were worth $1,082,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Scorpio Tankers in the 4th quarter valued at $30,374,000. Barclays PLC raised its stake in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after purchasing an additional 168,866 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Scorpio Tankers in the 4th quarter valued at approximately $684,000. Savant Capital LLC bought a new position in shares of Scorpio Tankers in the 4th quarter valued at approximately $346,000. Finally, Principal Financial Group Inc. raised its stake in shares of Scorpio Tankers by 9.6% in the 4th quarter. Principal Financial Group Inc. now owns 45,377 shares of the shipping company's stock valued at $2,255,000 after acquiring an additional 3,961 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on STNG shares. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Stifel Nicolaus reduced their price objective 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. Evercore ISI reduced their price objective on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research note on Friday, May 2nd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Three investment 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Trading Up 1.4%

NYSE:STNG traded up $0.56 during mid-day trading on Friday, hitting $40.02. The company had a trading volume of 402,554 shares, compared to its average volume of 896,156. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The business's fifty day moving average is $37.89 and its two-hundred day moving average is $44.58. 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 firm has a market cap of $2.04 billion, a P/E ratio of 3.07 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same quarter last year, the firm posted $3.97 earnings per share. Scorpio Tankers's revenue was down 45.3% compared to the same quarter last year. As a group, research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

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 given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date is Friday, May 30th. Scorpio Tankers's dividend payout ratio is presently 15.76%.

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.