Virtu Financial LLC Trims Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Virtu Financial LLC reduced its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 50.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,403 shares of the shipping company’s stock after selling 22,046 shares during the quarter. Virtu Financial LLC’s holdings in Scorpio Tankers were worth $1,301,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in STNG. Moody Aldrich Partners LLC grew its position in shares of Scorpio Tankers by 34.6% during the 4th quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company’s stock worth $7,490,000 after buying an additional 31,649 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Scorpio Tankers by 4,706.2% in the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after purchasing an additional 950,600 shares during the period. DNB Asset Management AS boosted its stake in shares of Scorpio Tankers by 167.0% during the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company’s stock valued at $15,494,000 after purchasing an additional 159,393 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Scorpio Tankers during the fourth quarter valued at approximately $3,772,000. Finally, Bfsg LLC bought a new position in Scorpio Tankers in the fourth quarter worth approximately $114,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

Shares of STNG traded down $2.68 during mid-day trading on Friday, reaching $75.37. The company had a trading volume of 969,566 shares, compared to its average volume of 623,423. The stock has a 50 day moving average of $76.04 and a two-hundred day moving average of $69.12. The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $4.11 billion, a P/E ratio of 6.99, a PEG ratio of 1.18 and a beta of 0.20. Scorpio Tankers Inc. has a 52-week low of $40.34 and a 52-week high of $83.33.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The firm had revenue of $389.76 million during the quarter, compared to analyst estimates of $381.46 million. On average, analysts expect that Scorpio Tankers Inc. will post 11.73 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Friday, June 14th. Scorpio Tankers’s payout ratio is currently 14.84%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 9th. Finally, Bank of America lifted their price objective on shares of Scorpio Tankers from $76.00 to $82.00 and gave the stock a “neutral” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.17.

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.