Man Group plc Sells 91,746 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Man Group plc decreased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 26.8% in the fourth quarter, Holdings Channel reports. The firm owned 250,898 shares of the shipping company’s stock after selling 91,746 shares during the quarter. Man Group plc’s holdings in Scorpio Tankers were worth $12,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. U S Global Investors Inc. raised its stake in shares of Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock valued at $253,000 after acquiring an additional 215 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 263 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 266 shares during the last quarter. Ellevest Inc. raised its stake in shares of Scorpio Tankers by 8.4% in the fourth quarter. Ellevest Inc. now owns 6,278 shares of the shipping company’s stock valued at $312,000 after acquiring an additional 485 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Scorpio Tankers by 0.7% in the fourth quarter. Rhumbline Advisers now owns 76,004 shares of the shipping company’s stock valued at $3,777,000 after acquiring an additional 559 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

STNG stock opened at $42.05 on Friday. 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 company has a 50 day moving average price of $37.76 and a 200 day moving average price of $45.09. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $84.67. The stock has a market capitalization of $2.15 billion, a PE ratio of 3.22 and a beta of -0.12.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.32. Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. The firm had revenue of $204.20 million during the quarter, compared to analysts’ expectations of $205.89 million. During the same quarter in the previous year, the company posted $3.97 EPS. Scorpio Tankers’s revenue was down 45.3% on a year-over-year basis. Analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Friday, May 30th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 15.76%.

Analysts Set New Price Targets

STNG has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of Scorpio Tankers from $60.00 to $57.00 and set an “outperform” rating for the company in a research note on Friday, May 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 1st. Fearnley Fonds upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus cut their target price 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. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $60.50.

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.