Hosking Partners LLP Reduces Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Hosking Partners LLP lowered its position in Scorpio Tankers Inc. (NYSE:STNG) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 200,247 shares of the shipping company’s stock after selling 4,233 shares during the quarter. Hosking Partners LLP’s holdings in Scorpio Tankers were worth $9,950,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd raised its position in Scorpio Tankers by 40.2% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 27,190 shares of the shipping company’s stock worth $1,351,000 after purchasing an additional 7,793 shares during the period. TCW Group Inc. lifted its stake in shares of Scorpio Tankers by 8.2% during the 4th quarter. TCW Group Inc. now owns 190,692 shares of the shipping company’s stock worth $9,475,000 after acquiring an additional 14,500 shares during the last quarter. Ieq Capital LLC bought a new position in Scorpio Tankers in the 4th quarter valued at $682,000. Principal Financial Group Inc. increased its stake in Scorpio Tankers by 9.6% in the fourth quarter. Principal Financial Group Inc. now owns 45,377 shares of the shipping company’s stock worth $2,255,000 after purchasing an additional 3,961 shares during the period. Finally, Rhumbline Advisers increased its stake in Scorpio Tankers by 0.7% in the fourth quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company’s stock worth $3,777,000 after purchasing an additional 559 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus lowered 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 note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $39.52 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The business has a fifty day moving average of $48.42 and a 200 day moving average of $57.79. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.08. Scorpio Tankers Inc. has a 1 year low of $38.55 and a 1 year high of $84.67.

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

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

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.