PDT Partners LLC Sells 12,700 Shares of Scorpio Tankers Inc. (NYSE:STNG)

PDT Partners LLC lessened its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 20.0% during the third quarter, Holdings Channel reports. The institutional investor owned 50,844 shares of the shipping company’s stock after selling 12,700 shares during the quarter. PDT Partners LLC’s holdings in Scorpio Tankers were worth $3,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. purchased a new position in shares of Scorpio Tankers in the third quarter worth about $28,000. Fifth Third Bancorp increased its stake in shares of Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after purchasing an additional 319 shares in the last quarter. Quarry LP raised its position in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its stake in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after buying an additional 177 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reduced their price target on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Evercore ISI decreased their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $76.40.

Scorpio Tankers Trading Down 0.1 %

Shares of STNG stock opened at $50.66 on Friday. The company has a market capitalization of $2.56 billion, a PE ratio of 3.63 and a beta of 0.18. Scorpio Tankers Inc. has a 52-week low of $49.98 and a 52-week high of $84.67. The business’s fifty day moving average is $62.02 and its 200 day moving average is $71.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.91 EPS. On average, equities research analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.16%. Scorpio Tankers’s payout ratio is presently 11.47%.

Scorpio Tankers 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.