Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lessened its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 2.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,960 shares of the shipping company’s stock after selling 790 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Scorpio Tankers were worth $1,994,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of Scorpio Tankers during the third quarter worth about $28,000. Ceredex Value Advisors LLC purchased a new stake in shares of Scorpio Tankers during the third quarter worth approximately $7,479,000. Measured Wealth Private Client Group LLC increased its stake in shares of Scorpio Tankers by 4.0% during the third quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock worth $894,000 after buying an additional 484 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Scorpio Tankers by 51.9% during the third quarter. Assenagon Asset Management S.A. now owns 20,518 shares of the shipping company’s stock worth $1,463,000 after buying an additional 7,010 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Scorpio Tankers by 8,249.0% during the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG opened at $57.92 on Tuesday. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2.93 billion, a PE ratio of 4.15 and a beta of 0.18. The company’s 50 day simple moving average is $67.85 and its 200-day simple moving average is $73.72. Scorpio Tankers Inc. has a 12-month low of $52.68 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. As a group, equities analysts predict that Scorpio Tankers Inc. will post 11.13 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Analyst Ratings Changes

A number of analysts recently weighed in on STNG shares. Bank of America cut their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, October 29th. Evercore ISI dropped their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of “Hold” and an average target price of $78.40.

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.