US Bancorp DE Sells 4,877 Shares of Scorpio Tankers Inc. (NYSE:STNG)

US Bancorp DE decreased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 81.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,112 shares of the shipping company’s stock after selling 4,877 shares during the quarter. US Bancorp DE’s holdings in Scorpio Tankers were worth $79,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC grew its holdings in Scorpio Tankers by 4.0% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 12,541 shares of the shipping company’s stock worth $894,000 after acquiring an additional 484 shares during the period. Assenagon Asset Management S.A. grew its stake in Scorpio Tankers by 51.9% in 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 purchasing an additional 7,010 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Scorpio Tankers by 8,249.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after purchasing an additional 1,857,668 shares during the last quarter. U S Global Investors Inc. boosted its stake in shares of Scorpio Tankers by 172.6% during the 3rd quarter. U S Global Investors Inc. now owns 4,877 shares of the shipping company’s stock worth $348,000 after acquiring an additional 3,088 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Scorpio Tankers by 16.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock worth $2,346,000 after buying an additional 4,564 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analysts Set New Price Targets

STNG has been the topic of several research reports. Jefferies Financial Group decreased their price target on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Evercore ISI reduced their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Stock Performance

STNG stock opened at $53.73 on Friday. Scorpio Tankers Inc. has a 12-month low of $52.68 and a 12-month high of $84.67. The firm has a market cap of $2.71 billion, a PE ratio of 3.85 and a beta of 0.18. The business has a 50 day moving average of $65.18 and a 200-day moving average of $72.69. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

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

Scorpio Tankers Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

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.