International Assets Investment Management LLC Lowers Stake in Scorpio Tankers Inc. (NYSE:STNG)

International Assets Investment Management LLC trimmed its position in Scorpio Tankers Inc. (NYSE:STNG) by 98.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,230 shares of the shipping company’s stock after selling 1,845,958 shares during the quarter. International Assets Investment Management LLC owned 0.07% of Scorpio Tankers worth $1,713,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Truist Financial Corp increased its holdings in Scorpio Tankers by 1.4% in the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock valued at $889,000 after purchasing an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its position in shares of Scorpio Tankers by 34.2% in the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after buying an additional 177 shares during the period. Quarry LP grew its stake in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after buying an additional 252 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

STNG opened at $52.34 on Thursday. The company has a market capitalization of $2.64 billion, a P/E ratio of 3.75 and a beta of 0.12. The company has a 50-day moving average of $51.56 and a 200-day moving average of $65.09. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers Inc. has a 1-year low of $45.94 and a 1-year high of $84.67.

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

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group dropped their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Evercore ISI cut their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and an average target price of $75.40.

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.