Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,043 shares of the shipping company’s stock after selling 43,133 shares during the period. Scorpio Tankers comprises 1.2% of Platinum Investment Management Ltd.’s portfolio, making the stock its 20th largest position. Platinum Investment Management Ltd.’s holdings in Scorpio Tankers were worth $19,978,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Scorpio Tankers by 204.1% during the fourth 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 lifted 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 worth $30,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Scorpio Tankers by 40.1% during 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 in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Scorpio Tankers during the third quarter worth $68,000. Finally, EverSource Wealth Advisors LLC lifted 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 purchasing an additional 876 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Up 1.1 %

Shares of NYSE:STNG opened at $40.76 on Wednesday. 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 company has a fifty day simple moving average of $45.63 and a 200 day simple moving average of $54.47. The firm has a market cap of $2.06 billion, a PE ratio of 3.13 and a beta of 0.01. Scorpio Tankers Inc. has a 12-month low of $37.14 and a 12-month high of $84.67.

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

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 3.93%. Scorpio Tankers’s payout ratio is 12.27%.

Wall Street Analyst Weigh In

STNG has been the topic of a number of recent research reports. Jefferies Financial Group reissued 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 dropped their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Company 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.