Scorpio Tankers Inc. (NYSE:STNG) Stock Holdings Lessened by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in Scorpio Tankers Inc. (NYSE:STNG) by 99.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 698 shares of the shipping company’s stock after selling 117,941 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Scorpio Tankers were worth $35,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STNG. Norges Bank bought a new position in Scorpio Tankers during the fourth quarter valued at approximately $30,374,000. Raymond James Financial Inc. bought a new position in Scorpio Tankers during the fourth quarter valued at approximately $684,000. Savant Capital LLC bought a new position in Scorpio Tankers during the fourth quarter valued at approximately $346,000. Principal Financial Group Inc. raised its position in Scorpio Tankers by 9.6% during the fourth quarter. Principal Financial Group Inc. now owns 45,377 shares of the shipping company’s stock valued at $2,255,000 after acquiring an additional 3,961 shares in the last quarter. Finally, Empowered Funds LLC bought a new position in Scorpio Tankers during the fourth quarter valued at approximately $5,621,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STNG has been the topic of several recent research reports. Fearnley Fonds raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 6th. Jefferies Financial Group reissued a “buy” rating and issued a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Stifel Nicolaus dropped their price target 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. Finally, Evercore ISI dropped their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $60.50.

Scorpio Tankers Trading Up 0.5%

NYSE:STNG opened at $39.70 on Friday. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $84.67. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.04 and a beta of -0.12. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $38.00 and its 200-day moving average is $43.56.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $205.89 million. During the same quarter last year, the firm posted $3.97 earnings per share. The company’s quarterly revenue was down 45.3% compared to the same quarter last year. Equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. Scorpio Tankers’s payout ratio is 15.76%.

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.