Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP trimmed its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 87.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 68,592 shares of the shipping company's stock after selling 486,000 shares during the period. Two Sigma Advisers LP owned about 0.14% of Scorpio Tankers worth $3,408,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. Barclays PLC increased its position in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after acquiring an additional 168,866 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter worth $249,000. Exchange Traded Concepts LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter worth $303,000. Blue Trust Inc. grew its stake in shares of Scorpio Tankers by 102.3% during the fourth quarter. Blue Trust Inc. now owns 6,631 shares of the shipping company's stock worth $329,000 after purchasing an additional 3,354 shares in the last quarter. Finally, EMC Capital Management grew its stake in shares of Scorpio Tankers by 61.5% during the fourth quarter. EMC Capital Management now owns 2,717 shares of the shipping company's stock worth $135,000 after purchasing an additional 1,035 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STNG. Stifel Nicolaus lowered 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 note 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 set a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Finally, Evercore ISI lowered 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 note on Friday, May 2nd. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $60.50.

Scorpio Tankers Stock Performance

NYSE STNG traded down $0.32 during trading hours on Friday, hitting $39.79. The company had a trading volume of 588,628 shares, compared to its average volume of 899,870. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The company has a market cap of $2.03 billion, a PE ratio of 3.05 and a beta of -0.12. The business has a 50 day moving average of $37.84 and a 200-day moving average of $44.00.

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 (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 company 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 posted $3.97 earnings per share. Scorpio Tankers's revenue for the quarter was down 45.3% on a year-over-year basis. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business 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 $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 4.02%. 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.