Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Sei Investments Co.

Sei Investments Co. lowered its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 35.6% during the fourth quarter, Holdings Channel reports. The firm owned 24,753 shares of the shipping company’s stock after selling 13,684 shares during the quarter. Sei Investments Co.’s holdings in Scorpio Tankers were worth $1,232,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in STNG. American Century Companies Inc. increased its holdings in shares of Scorpio Tankers by 10.9% in the fourth quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock valued at $77,437,000 after purchasing an additional 153,267 shares during the period. Cibc World Markets Corp purchased a new position in Scorpio Tankers in the 4th quarter valued at $207,000. Gallacher Capital Management LLC increased its stake in Scorpio Tankers by 6.1% in the 4th quarter. Gallacher Capital Management LLC now owns 10,409 shares of the shipping company’s stock valued at $517,000 after buying an additional 603 shares during the period. Royce & Associates LP lifted its stake in shares of Scorpio Tankers by 33.1% in the 4th quarter. Royce & Associates LP now owns 200,498 shares of the shipping company’s stock worth $9,963,000 after acquiring an additional 49,840 shares during the period. Finally, First Eagle Investment Management LLC lifted its stake in shares of Scorpio Tankers by 46.5% in the 4th quarter. First Eagle Investment Management LLC now owns 221,568 shares of the shipping company’s stock worth $11,010,000 after acquiring an additional 70,300 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Down 7.3 %

Shares of STNG opened at $31.87 on Monday. 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 market capitalization of $1.59 billion, a PE ratio of 2.44 and a beta of -0.01. The stock has a fifty day moving average of $42.00 and a two-hundred day moving average of $51.72. 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 (NYSE:STNG) last posted its quarterly earnings results 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%. As a group, analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.02%. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on STNG. Stifel Nicolaus lowered their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.75.

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.