Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 40.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,276 shares of the shipping company's stock after selling 11,667 shares during the period. Hsbc Holdings PLC's holdings in Scorpio Tankers were worth $863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of STNG. Barclays PLC raised its stake in Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after buying an additional 168,866 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at approximately $68,000. Franklin Resources Inc. boosted its stake in Scorpio Tankers by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 57,293 shares of the shipping company's stock worth $3,985,000 after purchasing an additional 4,407 shares in the last quarter. GAMMA Investing LLC boosted its stake in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock worth $10,020,000 after purchasing an additional 181,135 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

NYSE STNG traded up $0.46 on Friday, reaching $41.14. 626,906 shares of the company's stock traded hands, compared to its average volume of 899,634. The stock has a 50 day moving average price of $37.48 and a 200-day moving average price of $45.72. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 3.15 and a beta of -0.12. 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 fifty-two week low of $30.63 and a fifty-two week high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued 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. The business had revenue of $204.20 million during the quarter, compared to analysts' expectations of $205.89 million. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The company's revenue for the quarter was down 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.97 EPS. Equities research 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. Stockholders 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 dividend yield of 3.89%. Scorpio Tankers's payout ratio is 15.76%.

Analysts Set New Price Targets

A number of research firms have issued reports on STNG. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a report on Thursday, May 1st. Stifel Nicolaus lowered their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Fearnley Fonds upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Finally, Evercore ISI reduced their price objective on 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 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 stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Company 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.