Charles Schwab Investment Management Inc. Sells 36,638 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Charles Schwab Investment Management Inc. lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,161 shares of the shipping company’s stock after selling 36,638 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.38% of Scorpio Tankers worth $9,648,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of STNG. Mountaineer Partners Management LLC raised its position in shares of Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Scorpio Tankers by 882.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after purchasing an additional 181,135 shares during the period. Barclays PLC raised its position in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. Public Employees Retirement System of Ohio bought a new stake in shares of Scorpio Tankers in the third quarter valued at approximately $8,459,000. Finally, Empowered Funds LLC bought a new stake in shares of Scorpio Tankers in the fourth quarter valued at approximately $5,621,000. Institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STNG. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report 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 on the stock in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $39.71 on Friday. The firm’s 50 day simple moving average is $44.91 and its 200 day simple moving average is $53.98. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.01 billion, a PE ratio of 3.05 and a beta of 0.01. Scorpio Tankers Inc. has a 1-year low of $37.14 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results 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 return on equity of 18.01% and a net margin of 53.76%. 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 business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers’s 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.