Public Employees Retirement System of Ohio Cuts Stake in Scorpio Tankers Inc. (NYSE:STNG)

Public Employees Retirement System of Ohio trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 99.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 698 shares of the shipping company's stock after selling 117,941 shares during the period. Public Employees Retirement System of Ohio's holdings in Scorpio Tankers were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. FMR LLC raised its stake in Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after acquiring an additional 1,899,981 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in shares of Scorpio Tankers by 380.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock worth $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers during the fourth quarter worth about $30,374,000. Vanguard Group Inc. increased its position in shares of Scorpio Tankers by 22.3% during the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock worth $124,786,000 after purchasing an additional 458,120 shares in the last quarter. Finally, Balyasny Asset Management L.P. purchased a new stake in shares of Scorpio Tankers in the 4th quarter valued at about $14,426,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on STNG shares. Evercore ISI dropped their price target 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. Fearnley Fonds upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report 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 report on Thursday, May 1st. Finally, Stifel Nicolaus reduced their price target 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. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Stock Performance

STNG stock traded up $0.05 on Tuesday, hitting $39.72. The company's stock had a trading volume of 392,364 shares, compared to its average volume of 895,552. The firm has a 50 day moving average of $38.15 and a two-hundred day moving average of $43.30. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 3.05 and a beta of -0.04. 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 (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, beating 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 firm had revenue of $204.20 million during the quarter, compared to the consensus estimate of $205.89 million. During the same quarter in the prior year, the firm earned $3.97 EPS. Scorpio Tankers's revenue for the quarter was down 45.3% on a year-over-year basis. 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 given 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 4.03%. Scorpio Tankers's payout ratio is currently 15.76%.

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.