BNP Paribas Financial Markets Decreases Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

BNP Paribas Financial Markets lessened its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,411 shares of the shipping company’s stock after selling 5,993 shares during the period. BNP Paribas Financial Markets’ holdings in Scorpio Tankers were worth $3,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Scorpio Tankers in the 3rd quarter valued at $28,000. Fifth Third Bancorp grew its position in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 319 shares during the last quarter. Quarry LP grew its position in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 177 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $50.17 on Thursday. Scorpio Tankers Inc. has a 1-year low of $49.16 and a 1-year high of $84.67. The stock’s 50-day moving average is $60.85 and its 200 day moving average is $70.51. The company has a market cap of $2.53 billion, a P/E ratio of 3.60 and a beta of 0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same quarter last year, the company earned $1.91 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Research analysts predict that Scorpio Tankers Inc. will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Analyst Ratings Changes

STNG has been the topic of a number of recent research reports. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Finally, Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $76.40.

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.