Corsair Capital Management L.P. Trims Position in Scorpio Tankers Inc. (NYSE:STNG)

Corsair Capital Management L.P. trimmed its position in Scorpio Tankers Inc. (NYSE:STNGFree Report) by 42.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,999 shares of the shipping company’s stock after selling 3,000 shares during the period. Corsair Capital Management L.P.’s holdings in Scorpio Tankers were worth $243,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in STNG. Neo Ivy Capital Management bought a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $27,000. Headinvest LLC bought a new stake in Scorpio Tankers in the 3rd quarter valued at $51,000. Sunbelt Securities Inc. purchased a new stake in Scorpio Tankers in the 3rd quarter worth $54,000. U S Global Investors Inc. boosted its holdings in shares of Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 220 shares during the last quarter. Finally, Bfsg LLC bought a new position in Scorpio Tankers during the fourth quarter valued at approximately $114,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Down 0.0 %

Scorpio Tankers stock traded down $0.01 during midday trading on Friday, hitting $80.37. 740,634 shares of the company’s stock were exchanged, compared to its average volume of 617,177. Scorpio Tankers Inc. has a 12 month low of $40.34 and a 12 month high of $83.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.58 and a current ratio of 1.60. The company has a market cap of $4.39 billion, a PE ratio of 7.46, a P/E/G ratio of 1.21 and a beta of 0.20. The firm has a 50-day moving average of $75.43 and a two-hundred day moving average of $68.52.

Scorpio Tankers (NYSE:STNGGet Free Report) last issued its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping analysts’ consensus estimates of $3.72 by $0.25. The company had revenue of $389.76 million during the quarter, compared to the consensus estimate of $381.46 million. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. As a group, analysts expect that Scorpio Tankers Inc. will post 11.73 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Friday, June 14th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 14.84%.

Analysts Set New Price Targets

STNG has been the subject of several recent research reports. Bank of America lifted their price target on Scorpio Tankers from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Thursday, May 9th. StockNews.com upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, Evercore ISI increased their price objective on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and an average price target of $80.17.

Get Our Latest Research Report on Scorpio Tankers

About Scorpio Tankers

(Free Report)

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.

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Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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