Bay Colony Advisory Group Inc d b a Bay Colony Advisors Decreases Position in Scorpio Tankers Inc. (NYSE:STNG)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors trimmed its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 84,150 shares of the shipping company's stock after selling 37,141 shares during the quarter. Scorpio Tankers comprises about 1.0% of Bay Colony Advisory Group Inc d b a Bay Colony Advisors' holdings, making the stock its 20th biggest position. Bay Colony Advisory Group Inc d b a Bay Colony Advisors owned 0.15% of Scorpio Tankers worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in shares of Scorpio Tankers during the third quarter valued at about $27,000. CWM LLC raised its position in Scorpio Tankers by 1,037.0% in the third quarter. CWM LLC now owns 523 shares of the shipping company's stock worth $28,000 after acquiring an additional 477 shares during the period. Lazard Asset Management LLC raised its position in Scorpio Tankers by 1,985.7% in the second quarter. Lazard Asset Management LLC now owns 584 shares of the shipping company's stock worth $27,000 after acquiring an additional 556 shares during the period. E Fund Management Hong Kong Co. Ltd. bought a new stake in Scorpio Tankers in the third quarter worth about $52,000. Finally, Meeder Asset Management Inc. raised its position in Scorpio Tankers by 35.2% in the first quarter. Meeder Asset Management Inc. now owns 964 shares of the shipping company's stock worth $54,000 after acquiring an additional 251 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a research note on Thursday, February 1st. Evercore ISI upped their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an "outperform" rating in a report on Thursday, February 15th. Jefferies Financial Group reaffirmed a "buy" rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. Finally, StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.00.

Scorpio Tankers Trading Down 0.9 %

Shares of NYSE:STNG traded down $0.67 on Friday, hitting $70.97. The company had a trading volume of 619,652 shares, compared to its average volume of 752,273. The firm's 50-day simple moving average is $69.33 and its two-hundred day simple moving average is $62.60. Scorpio Tankers Inc. has a 1 year low of $40.34 and a 1 year high of $74.04. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 7.14 and a beta of 0.21.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, topping the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm had revenue of $336.30 million during the quarter, compared to analysts' expectations of $335.70 million. During the same period last year, the company posted $4.24 EPS. The company's quarterly revenue was down 31.9% compared to the same quarter last year. Equities analysts anticipate that Scorpio Tankers Inc. will post 12.3 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.25%. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is presently 16.10%.

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.