Arrowstreet Capital Limited Partnership Cuts Position in Scorpio Tankers Inc. (NYSE:STNG)

Arrowstreet Capital Limited Partnership trimmed its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 654,970 shares of the shipping company’s stock after selling 86,695 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 1.30% of Scorpio Tankers worth $32,545,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Citigroup Inc. grew its position in Scorpio Tankers by 120.1% in the third quarter. Citigroup Inc. now owns 58,576 shares of the shipping company’s stock worth $4,176,000 after acquiring an additional 31,960 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Scorpio Tankers by 25.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 55,341 shares of the shipping company’s stock valued at $3,946,000 after purchasing an additional 11,108 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Scorpio Tankers in the 3rd quarter valued at approximately $332,000. Centiva Capital LP purchased a new position in shares of Scorpio Tankers in the 3rd quarter worth approximately $897,000. Finally, HighTower Advisors LLC increased its position in shares of Scorpio Tankers by 38.1% during the 3rd quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company’s stock valued at $857,000 after purchasing an additional 3,322 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

STNG stock opened at $37.48 on Thursday. Scorpio Tankers Inc. has a twelve month low of $37.07 and a twelve month high of $84.67. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 2.87 and a beta of -0.01. The business’s fifty day simple moving average is $42.56 and its two-hundred day simple moving average is $52.34. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

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

Scorpio Tankers Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have commented on the stock. Jefferies Financial Group reaffirmed 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 dropped their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.