Boston Partners Sells 2,663 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Boston Partners decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,948 shares of the shipping company’s stock after selling 2,663 shares during the quarter. Boston Partners’ holdings in Scorpio Tankers were worth $2,333,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of STNG. GAMMA Investing LLC lifted its stake in Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after purchasing an additional 266 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Scorpio Tankers by 850.5% in 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in Scorpio Tankers during the third quarter valued at approximately $68,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $39.71 on Friday. The stock has a 50 day moving average price of $44.91 and a 200-day moving average price of $54.08. Scorpio Tankers Inc. has a one year low of $37.14 and a one year high of $84.67. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 3.05 and a beta of 0.01. 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 (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Equities analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.03%. Scorpio Tankers’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Stifel Nicolaus decreased their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.