BNP Paribas Financial Markets Reduces Holdings in Scorpio Tankers Inc. (NYSE:STNG)

BNP Paribas Financial Markets lowered its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 59.2% in the 4th quarter, according to its most recent 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 reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Lindbrook Capital LLC raised its holdings in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd raised its holdings 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 purchasing an additional 770 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Scorpio Tankers by 40.1% in the 4th 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 in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Scorpio Tankers by 850.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock worth $49,000 after purchasing an additional 876 shares in the last quarter. Finally, Kohmann Bosshard Financial Services LLC bought a new position in Scorpio Tankers in the 4th quarter worth $99,000. Hedge funds and other institutional investors own 54.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on STNG shares. Stifel Nicolaus decreased their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Finally, Evercore ISI decreased their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $60.50.

Scorpio Tankers Stock Up 1.4%

NYSE:STNG traded up $0.56 on Monday, reaching $40.02. 402,554 shares of the stock traded hands, compared to its average volume of 897,984. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of 3.07 and a beta of -0.12. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The company's fifty day simple moving average is $37.86 and its 200 day simple moving average is $44.32.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.32. The business had revenue of $204.20 million during the quarter, compared to analyst estimates 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 was down 45.3% compared to the same quarter last year. During the same period last year, the business earned $3.97 EPS. Equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.00%. Scorpio Tankers's dividend payout ratio is currently 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.