Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 18.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,092,515 shares of the shipping company’s stock after selling 239,500 shares during the quarter. Renaissance Technologies LLC’s holdings in Scorpio Tankers were worth $54,287,000 as of its most recent SEC filing.

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

Scorpio Tankers Stock Up 3.4 %

Scorpio Tankers stock opened at $34.42 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The stock has a market cap of $1.72 billion, a PE ratio of 2.64 and a beta of -0.01. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The firm’s 50-day simple moving average is $40.68 and its 200 day simple moving average is $50.73.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data 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%. Research analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.65%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on STNG shares. 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 restated a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, 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.