Massachusetts Financial Services Co. MA Sells 14,452 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Massachusetts Financial Services Co. MA decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,484 shares of the shipping company’s stock after selling 14,452 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Scorpio Tankers were worth $1,068,000 at the end of the most recent reporting period.

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

Scorpio Tankers Trading Down 6.1 %

Shares of Scorpio Tankers stock opened at $33.21 on Wednesday. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company has a market capitalization of $1.66 billion, a P/E ratio of 2.55 and a beta of -0.01. The company has a fifty day moving average of $41.22 and a 200 day moving average of $51.10.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share 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%. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STNG shares. 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. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.