Sterling Capital Management LLC Sells 7,217 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Sterling Capital Management LLC lessened its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 83.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,404 shares of the shipping company's stock after selling 7,217 shares during the period. Sterling Capital Management LLC's holdings in Scorpio Tankers were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. MML Investors Services LLC purchased a new position in shares of Scorpio Tankers in the third quarter worth about $203,000. Barclays PLC lifted its position in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after acquiring an additional 168,866 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Scorpio Tankers in the third quarter worth $68,000. Tidal Investments LLC raised its stake in shares of Scorpio Tankers by 54.3% during the 3rd quarter. Tidal Investments LLC now owns 54,816 shares of the shipping company's stock valued at $3,908,000 after purchasing an additional 19,298 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Scorpio Tankers by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 57,293 shares of the shipping company's stock worth $3,985,000 after purchasing an additional 4,407 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Up 2.6 %

Scorpio Tankers stock traded up $0.94 on Tuesday, hitting $37.52. 97,624 shares of the stock traded hands, compared to its average volume of 887,950. The business's fifty day simple moving average is $37.78 and its 200 day simple moving average is $47.49. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67. The firm has a market cap of $1.87 billion, a P/E ratio of 2.87 and a beta of -0.01. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. As a group, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.26%. Scorpio Tankers's dividend payout ratio is currently 12.27%.

Analysts Set New Price Targets

STNG has been the subject of a number of analyst reports. Stifel Nicolaus cut their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research report on Friday, February 14th. Evercore ISI dropped their price objective on Scorpio Tankers from $64.00 to $60.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Scorpio Tankers has an average 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.