Sterling Capital Management LLC Cuts Stake in Scorpio Tankers Inc. (NYSE:STNG)

Sterling Capital Management LLC lessened its position in Scorpio Tankers Inc. (NYSE:STNG) by 83.7% in the 4th quarter, Holdings Channel reports. The fund owned 1,404 shares of the shipping company’s stock after selling 7,217 shares during the period. Sterling Capital Management LLC’s holdings in Scorpio Tankers were worth $70,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after buying an additional 263 shares during the period. Covestor Ltd boosted its stake in shares of Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after buying an additional 770 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after buying an additional 266 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after acquiring an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $35.23 on Thursday. The firm has a market capitalization of $1.76 billion, a PE ratio of 2.70 and a beta of -0.01. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $84.67. The firm’s 50-day simple moving average is $38.07 and its 200 day simple moving average is $48.31. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results 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 net margin of 53.76% and a return on equity of 18.01%. On average, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.54%. Scorpio Tankers’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

Several equities research analysts have commented on STNG shares. Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus target price of $63.75.

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.