Boston Partners Sells 2,663 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Boston Partners cut its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,948 shares of the shipping company’s stock after selling 2,663 shares during the period. Boston Partners owned about 0.09% of Scorpio Tankers worth $2,333,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of STNG. GAMMA Investing LLC increased its position in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 402 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $68,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after buying an additional 876 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Trading Down 5.9 %

Scorpio Tankers stock opened at $39.71 on Friday. 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 Inc. has a 12-month low of $37.14 and a 12-month high of $84.67. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 3.05 and a beta of 0.01. The firm has a 50 day moving average of $44.91 and a 200 day moving average of $54.08.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate 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, research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. Scorpio Tankers’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on STNG. Stifel Nicolaus reduced their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.75.

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.