Tejara Capital Ltd Sells 109,390 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Tejara Capital Ltd decreased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 81.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,300 shares of the shipping company’s stock after selling 109,390 shares during the quarter. Tejara Capital Ltd’s holdings in Scorpio Tankers were worth $1,207,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC boosted its stake in Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the period. Geode Capital Management LLC boosted its stake in Scorpio Tankers by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after purchasing an additional 38,599 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Scorpio Tankers by 46.5% in the 4th quarter. First Eagle Investment Management LLC now owns 221,568 shares of the shipping company’s stock worth $11,010,000 after acquiring an additional 70,300 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after acquiring an additional 181,135 shares during the period. Finally, Royce & Associates LP lifted its position in shares of Scorpio Tankers by 33.1% in the 4th quarter. Royce & Associates LP now owns 200,498 shares of the shipping company’s stock worth $9,963,000 after acquiring an additional 49,840 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.9 %

Shares of STNG opened at $40.33 on Tuesday. Scorpio Tankers Inc. has a 1 year low of $37.14 and a 1 year high of $84.67. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The stock has a 50 day simple moving average of $45.88 and a 200-day simple moving average of $54.69. The stock has a market cap of $2.04 billion, a PE ratio of 3.09 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) 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%. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.97%. Scorpio Tankers’s payout ratio is presently 12.27%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stifel Nicolaus reduced 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 price objective on shares of Scorpio Tankers in a research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.