Renaissance Technologies LLC Decreases Stock Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Renaissance Technologies LLC lessened its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 18.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,092,515 shares of the shipping company’s stock after selling 239,500 shares during the period. Renaissance Technologies LLC owned approximately 2.16% of Scorpio Tankers worth $54,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of STNG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Scorpio Tankers in the 3rd quarter valued at $332,000. HighTower Advisors LLC raised its stake in Scorpio Tankers by 38.1% in the third quarter. HighTower Advisors LLC now owns 12,041 shares of the shipping company’s stock valued at $857,000 after buying an additional 3,322 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in Scorpio Tankers in the third quarter valued at about $552,000. MML Investors Services LLC purchased a new stake in Scorpio Tankers in the third quarter valued at about $203,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Scorpio Tankers by 50.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 19,397 shares of the shipping company’s stock worth $1,383,000 after purchasing an additional 6,473 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $34.42 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The stock has a fifty day moving average price of $40.68 and a 200 day moving average price of $50.73. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The company has a market cap of $1.72 billion, a PE ratio of 2.64 and a beta of -0.01.

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

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.65%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 12.27%.

Analyst Ratings Changes

Several analysts have commented on STNG shares. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus lowered their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.