Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Private Management Group Inc.

Private Management Group Inc. lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 4.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 236,787 shares of the shipping company’s stock after selling 11,779 shares during the quarter. Private Management Group Inc. owned about 0.43% of Scorpio Tankers worth $14,397,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Neo Ivy Capital Management bought a new position in shares of Scorpio Tankers during the 3rd quarter valued at about $27,000. CWM LLC boosted its position in shares of Scorpio Tankers by 1,037.0% during the 3rd quarter. CWM LLC now owns 523 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 477 shares in the last quarter. Headinvest LLC bought a new position in shares of Scorpio Tankers during the 3rd quarter valued at about $51,000. Sunbelt Securities Inc. bought a new position in shares of Scorpio Tankers during the 3rd quarter valued at about $54,000. Finally, U S Global Investors Inc. boosted its position in shares of Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock valued at $106,000 after purchasing an additional 220 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.1 %

Shares of STNG traded up $0.78 during midday trading on Tuesday, hitting $70.62. The stock had a trading volume of 423,294 shares, compared to its average volume of 1,161,340. Scorpio Tankers Inc. has a fifty-two week low of $40.34 and a fifty-two week high of $74.04. The business has a 50-day simple moving average of $69.76 and a two-hundred day simple moving average of $63.37. The firm has a market cap of $3.75 billion, a P/E ratio of 7.10 and a beta of 0.21. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.13. The business had revenue of $336.30 million during the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The firm’s revenue was down 31.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.24 earnings per share. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 12.15 EPS for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.27%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 7th. Scorpio Tankers’s dividend payout ratio is 16.10%.

Wall Street Analyst Weigh In

STNG has been the subject of several research reports. Jefferies Financial Group restated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, February 14th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Finally, Evercore ISI raised their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus price target of $74.00.

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.