Russell Investments Group Ltd. Has $4.98 Million Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Russell Investments Group Ltd. trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 16.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,214 shares of the shipping company’s stock after selling 19,339 shares during the quarter. Russell Investments Group Ltd. owned about 0.20% of Scorpio Tankers worth $4,980,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of STNG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Scorpio Tankers during the 3rd quarter worth about $332,000. HighTower Advisors LLC boosted its position in Scorpio Tankers by 38.1% during the third quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company’s stock worth $857,000 after purchasing an additional 3,322 shares during the period. MML Investors Services LLC acquired a new position in Scorpio Tankers during the third quarter valued at approximately $203,000. Barclays PLC raised its position in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Scorpio Tankers by 5.3% in the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after purchasing an additional 38,599 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on STNG shares. Stifel Nicolaus decreased their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Trading Down 3.8 %

Shares of STNG stock opened at $34.33 on Tuesday. The firm has a market capitalization of $1.71 billion, a P/E ratio of 2.63 and a beta of -0.01. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $84.67. The firm’s fifty day simple moving average is $39.80 and its 200 day simple moving average is $49.83. 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 (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (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%. As a group, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared 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 of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.66%. Scorpio Tankers’s dividend payout ratio (DPR) is 12.27%.

Scorpio Tankers Company 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.