Charles Schwab Investment Management Inc. Sells 36,638 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Charles Schwab Investment Management Inc. decreased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 15.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 194,161 shares of the shipping company’s stock after selling 36,638 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Scorpio Tankers were worth $9,648,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Scorpio Tankers by 204.1% in 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 in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Scorpio Tankers in the 3rd quarter valued at $68,000. Quarry LP boosted its stake in shares of Scorpio Tankers by 103.5% in the 3rd quarter. Quarry LP now owns 1,349 shares of the shipping company’s stock valued at $96,000 after purchasing an additional 686 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Scorpio Tankers during the 4th quarter valued at $99,000. Finally, EMC Capital Management boosted its position in Scorpio Tankers by 61.5% during the 4th quarter. EMC Capital Management now owns 2,717 shares of the shipping company’s stock valued at $135,000 after buying an additional 1,035 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 5.9 %

Shares of NYSE STNG opened at $39.71 on Friday. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 12 month low of $37.14 and a 12 month high of $84.67. The firm has a market capitalization of $2.01 billion, a PE ratio of 3.05 and a beta of 0.01. The firm has a fifty day simple moving average of $44.91 and a two-hundred day simple moving average of $53.98.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Equities analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.03%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STNG. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price target 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. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers presently has a consensus 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.