Arrowstreet Capital Limited Partnership Sells 86,695 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 11.7% during the fourth quarter, HoldingsChannel reports. The firm owned 654,970 shares of the shipping company’s stock after selling 86,695 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Scorpio Tankers were worth $32,545,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Orion Portfolio Solutions LLC bought a new position in shares of Scorpio Tankers in the 4th quarter worth $559,000. New Age Alpha Advisors LLC purchased a new position in Scorpio Tankers in the fourth quarter valued at about $214,000. Norges Bank bought a new position in Scorpio Tankers in the fourth quarter worth about $30,374,000. Vanguard Group Inc. raised its holdings in Scorpio Tankers by 22.3% in the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after purchasing an additional 458,120 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Scorpio Tankers during the fourth quarter valued at about $934,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $37.48 on Thursday. Scorpio Tankers Inc. has a fifty-two week low of $37.07 and a fifty-two week high of $84.67. 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 $1.87 billion, a price-to-earnings ratio of 2.87 and a beta of -0.01. The stock’s 50-day simple moving average is $42.56 and its 200-day simple moving average is $52.34.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate 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, equities analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers’s payout ratio is 12.27%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on STNG. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus cut their price target 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.75.

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.