Geode Capital Management LLC Has $37.87 Million Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Geode Capital Management LLC trimmed its stake in Scorpio Tankers Inc. (NYSE:STNG) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 762,136 shares of the shipping company’s stock after selling 5,993 shares during the period. Geode Capital Management LLC’s holdings in Scorpio Tankers were worth $37,871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the period. Lindbrook Capital LLC lifted its position 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 worth $30,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Scorpio Tankers by 850.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after buying an additional 876 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Scorpio Tankers during the third quarter worth $68,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $33.63 on Wednesday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 2.58 and a beta of -0.01. The firm’s 50-day moving average price is $39.50 and its 200-day moving average price is $49.72. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67.

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

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on STNG shares. Stifel Nicolaus lowered their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group reiterated 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 issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.75.

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.