Barclays PLC Has $3.73 Million Stock Position in Scorpio Tankers Inc. (NYSE:STNG)

Barclays PLC decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 60.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,954 shares of the shipping company’s stock after selling 113,241 shares during the period. Barclays PLC owned 0.15% of Scorpio Tankers worth $3,725,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STNG. Wilmington Savings Fund Society FSB acquired a new position in Scorpio Tankers during the 3rd quarter worth about $68,000. Tidal Investments LLC lifted its position in Scorpio Tankers by 54.3% during the 3rd quarter. Tidal Investments LLC now owns 54,816 shares of the shipping company’s stock worth $3,908,000 after buying an additional 19,298 shares in the last quarter. Franklin Resources Inc. lifted its position in Scorpio Tankers by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 57,293 shares of the shipping company’s stock worth $3,985,000 after buying an additional 4,407 shares in the last quarter. Principal Financial Group Inc. lifted its position in Scorpio Tankers by 2.5% during the 3rd quarter. Principal Financial Group Inc. now owns 41,416 shares of the shipping company’s stock worth $2,953,000 after buying an additional 992 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on STNG. Jefferies Financial Group reissued a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Evercore ISI dropped their price objective on Scorpio Tankers from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Stifel Nicolaus lowered their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and a consensus price target of $63.75.

Scorpio Tankers Price Performance

Shares of STNG opened at $36.59 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a 50 day simple moving average of $37.78 and a 200 day simple moving average of $47.49. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $84.67. The firm has a market capitalization of $1.83 billion, a PE ratio of 2.81 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG) last issued 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 net margin of 53.76% and a return on equity of 18.01%. Sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.37%. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

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.