Hosking Partners LLP Sells 4,233 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Hosking Partners LLP lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,247 shares of the shipping company’s stock after selling 4,233 shares during the period. Hosking Partners LLP owned 0.40% of Scorpio Tankers worth $9,950,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its position 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 valued at $1,463,000 after acquiring an additional 7,010 shares in the last quarter. Measured Wealth Private Client Group LLC increased its holdings in shares of Scorpio Tankers by 4.0% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock worth $894,000 after purchasing an additional 484 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Scorpio Tankers in the third quarter worth $7,479,000. Harbor Capital Advisors Inc. bought a new position in shares of Scorpio Tankers during the third quarter valued at $28,000. Finally, Foster & Motley Inc. boosted its position in shares of Scorpio Tankers by 71.5% during the third quarter. Foster & Motley Inc. now owns 9,078 shares of the shipping company’s stock valued at $647,000 after buying an additional 3,784 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on STNG shares. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price 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 research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $39.52 on Friday. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.08. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $48.42 and its 200-day simple moving average is $57.79. Scorpio Tankers Inc. has a 52 week low of $38.55 and a 52 week high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data 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 net margin of 53.76% and a return on equity of 18.01%. As a group, analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers’s dividend payout ratio is 12.27%.

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.