BNP Paribas Financial Markets Decreases Stake in Scorpio Tankers Inc. (NYSE:STNG)

BNP Paribas Financial Markets lessened its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 64,852 shares of the shipping company's stock after selling 12,056 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.12% of Scorpio Tankers worth $3,943,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of STNG. Moody Aldrich Partners LLC raised its position in shares of Scorpio Tankers by 34.6% in the 4th quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company's stock valued at $7,490,000 after acquiring an additional 31,649 shares during the period. DNB Asset Management AS raised its position in shares of Scorpio Tankers by 167.0% in the 4th quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company's stock valued at $15,494,000 after acquiring an additional 159,393 shares during the period. International Assets Investment Management LLC raised its position in shares of Scorpio Tankers by 4,706.2% in the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company's stock valued at $59,025,000 after acquiring an additional 950,600 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Scorpio Tankers in the 4th quarter valued at approximately $3,772,000. Finally, Hosking Partners LLP raised its position in shares of Scorpio Tankers by 3.1% in the 3rd quarter. Hosking Partners LLP now owns 335,949 shares of the shipping company's stock valued at $18,182,000 after acquiring an additional 10,232 shares during the period. Institutional investors own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an "overweight" rating in a research report on Thursday, February 1st. StockNews.com raised shares of Scorpio Tankers from a "hold" rating to a "buy" rating in a research note on Friday, May 10th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 9th. Bank of America lifted their price target on shares of Scorpio Tankers from $76.00 to $82.00 and gave the company a "neutral" rating in a research note on Friday, May 10th. 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.17.

Scorpio Tankers Stock Down 2.0 %

Shares of NYSE STNG traded down $1.65 during midday trading on Wednesday, reaching $81.33. The company's stock had a trading volume of 579,835 shares, compared to its average volume of 1,066,290. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. Scorpio Tankers Inc. has a fifty-two week low of $40.34 and a fifty-two week high of $83.33. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.24 and a beta of 0.18. The stock has a 50 day simple moving average of $73.22 and a 200-day simple moving average of $66.40.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The company had revenue of $389.76 million for the quarter, compared to the consensus estimate of $381.46 million. Equities research analysts predict that Scorpio Tankers Inc. will post 11.73 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.97%. Scorpio Tankers's dividend payout ratio (DPR) is presently 14.84%.

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.