J. Safra Sarasin Holding AG Sells 8,826 Shares of Scorpio Tankers Inc. (NYSE:STNG)

J. Safra Sarasin Holding AG lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 47.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,769 shares of the shipping company's stock after selling 8,826 shares during the period. J. Safra Sarasin Holding AG's holdings in Scorpio Tankers were worth $485,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC raised its holdings in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after acquiring an additional 402 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after acquiring an additional 263 shares during the last quarter. Covestor Ltd grew its position in Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after acquiring an additional 770 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Scorpio Tankers by 40.1% during 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 during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Scorpio Tankers by 850.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after purchasing an additional 876 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

STNG stock traded up $1.19 on Tuesday, reaching $37.77. 185,095 shares of the company were exchanged, compared to its average volume of 888,277. The stock's fifty day moving average price is $37.78 and its 200 day moving average price is $47.49. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The firm has a market capitalization of $1.89 billion, a PE ratio of 2.90 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. On average, research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.24%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STNG. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $64.00 to $60.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Finally, Stifel Nicolaus cut 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. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers presently has a consensus rating of "Hold" and a consensus price target of $63.75.

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.