Russell Investments Group Ltd. Sells 36,670 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Russell Investments Group Ltd. trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 20.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,881 shares of the shipping company's stock after selling 36,670 shares during the period. Russell Investments Group Ltd. owned about 0.26% of Scorpio Tankers worth $8,687,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in Scorpio Tankers in the 3rd quarter valued at about $27,000. Headinvest LLC acquired a new stake in Scorpio Tankers in the 3rd quarter valued at about $51,000. Sunbelt Securities Inc. acquired a new stake in Scorpio Tankers in the 3rd quarter valued at about $54,000. U S Global Investors Inc. increased its stake in Scorpio Tankers by 14.5% in the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company's stock valued at $106,000 after acquiring an additional 220 shares during the last quarter. Finally, Bfsg LLC bought a new position in Scorpio Tankers in the fourth quarter valued at approximately $114,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Up 1.0 %

Shares of NYSE:STNG traded up $0.70 during midday trading on Tuesday, hitting $72.70. 404,806 shares of the company's stock were exchanged, compared to its average volume of 1,095,197. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.13 and a quick ratio of 1.12. The stock has a 50 day moving average price of $70.60 and a 200-day moving average price of $64.68. The company has a market cap of $3.86 billion, a PE ratio of 7.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18. Scorpio Tankers Inc. has a 12 month low of $40.34 and a 12 month high of $74.04.

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. The company had revenue of $336.30 million during the quarter, compared to the consensus estimate of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm's revenue for the quarter was down 31.9% on a year-over-year basis. During the same period in the previous year, the firm posted $4.24 earnings per share. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.25 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This is an increase from Scorpio Tankers's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a dividend yield of 2.20%. Scorpio Tankers's payout ratio is presently 16.10%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STNG. StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. 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. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Finally, Evercore ISI lifted their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Scorpio Tankers has a consensus rating of "Moderate Buy" and an average price target of $74.00.

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.