Bank of New York Mellon Corp Cuts Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Bank of New York Mellon Corp lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 12.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 129,945 shares of the shipping company’s stock after selling 18,650 shares during the quarter. Bank of New York Mellon Corp owned 0.26% of Scorpio Tankers worth $6,457,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC boosted its stake in Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Geode Capital Management LLC increased its stake in Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after purchasing an additional 38,599 shares during the period. Assenagon Asset Management S.A. increased its stake in Scorpio Tankers by 882.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after purchasing an additional 181,135 shares during the period. TCW Group Inc. grew its position in shares of Scorpio Tankers by 8.2% during the fourth quarter. TCW Group Inc. now owns 190,692 shares of the shipping company’s stock worth $9,475,000 after buying an additional 14,500 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after buying an additional 168,866 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 2.1 %

Scorpio Tankers stock opened at $39.57 on Monday. 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 firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.01. Scorpio Tankers Inc. has a fifty-two week low of $37.14 and a fifty-two week high of $84.67. The stock’s fifty day moving average is $46.03 and its two-hundred day moving average is $54.90.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 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%. Analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.04%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is 12.27%.

Analyst Ratings Changes

STNG has been the subject of a number of research analyst reports. Stifel Nicolaus lowered their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Scorpio Tankers presently has an average rating of “Hold” and an average price target 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.