Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 63.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,143 shares of the shipping company’s stock after selling 20,760 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Scorpio Tankers were worth $608,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in STNG. Mountaineer Partners Management LLC lifted its stake in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Geode Capital Management LLC lifted its stake in Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after purchasing an additional 38,599 shares during the last quarter. Fiera Capital Corp lifted its stake in Scorpio Tankers by 1.6% during the third quarter. Fiera Capital Corp now owns 351,456 shares of the shipping company’s stock worth $25,059,000 after purchasing an additional 5,531 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after purchasing an additional 181,135 shares during the last quarter. Finally, Barclays PLC lifted its stake in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on STNG shares. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Price Performance

Shares of STNG opened at $41.99 on Tuesday. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 3.22 and a beta of 0.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. Scorpio Tankers Inc. has a one year low of $40.73 and a one year high of $84.67. The stock’s fifty day moving average is $48.68 and its 200-day moving average is $58.15.

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

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is 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.