Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Moore Capital Management LP

Moore Capital Management LP reduced its stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 25.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 238,583 shares of the shipping company's stock after selling 81,912 shares during the period. Moore Capital Management LP owned 0.47% of Scorpio Tankers worth $11,855,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Scorpio Tankers by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock valued at $174,512,000 after acquiring an additional 10,854 shares during the last quarter. FMR LLC boosted its holdings in Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after acquiring an additional 1,899,981 shares during the period. Vanguard Group Inc. grew its holdings in Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock valued at $124,786,000 after purchasing an additional 458,120 shares in the last quarter. Cooper Creek Partners Management LLC lifted its stake in shares of Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock worth $109,098,000 after acquiring an additional 1,738,190 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Scorpio Tankers by 10.9% during the fourth quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock worth $77,437,000 after buying an additional 153,267 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on STNG. Jefferies Financial Group reiterated a "buy" rating and issued a $65.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Evercore ISI decreased their price target 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. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Price Performance

Shares of STNG opened at $41.14 on Monday. The firm has a market cap of $2.10 billion, a PE ratio of 3.15 and a beta of -0.12. The firm's 50 day moving average price is $37.48 and its 200 day moving average price is $45.61. 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 twelve month low of $30.63 and a twelve month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.71 by $0.32. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Scorpio Tankers's quarterly revenue was down 45.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.97 EPS. As a group, research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 3.89%. Scorpio Tankers's dividend payout ratio is presently 15.76%.

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.

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