Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 22,159 shares of the shipping company’s stock after selling 2,890 shares during the quarter. Corebridge Financial Inc.’s holdings in Scorpio Tankers were worth $1,101,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in STNG. Vanguard Group Inc. raised its holdings in Scorpio Tankers by 22.3% during the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after purchasing an additional 458,120 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after buying an additional 181,135 shares in the last quarter. Barclays PLC boosted its stake 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 buying an additional 168,866 shares in the last quarter. American Century Companies Inc. grew its holdings in Scorpio Tankers by 10.9% during the fourth quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock worth $77,437,000 after acquiring an additional 153,267 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new position in Scorpio Tankers in the third quarter worth $8,459,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 7.3 %

STNG opened at $31.87 on Friday. 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 company has a market cap of $1.59 billion, a price-to-earnings ratio of 2.44 and a beta of -0.01. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $84.67. The business’s fifty day moving average is $42.00 and its two-hundred day moving average is $51.96.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data 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%. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed 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 of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.02%. Scorpio Tankers’s dividend payout ratio (DPR) is 12.27%.

Analysts Set New Price Targets

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

Scorpio Tankers 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.