Scorpio Tankers Inc. (NYSE:STNG) Stake Lessened by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 18.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 have also made changes to their positions in STNG. FMR LLC grew its stake in Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after buying an additional 1,899,981 shares during the last quarter. Norges Bank acquired a new stake in Scorpio Tankers in the 4th quarter valued at about $30,374,000. Vanguard Group Inc. grew its position in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after buying an additional 458,120 shares during the period. Assenagon Asset Management S.A. boosted its stake in Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after acquiring an additional 181,135 shares during the last quarter. Finally, Barclays PLC lifted its stake in Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after buying an additional 168,866 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their target price 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. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.75.

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. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $84.67. The company has a market capitalization of $1.72 billion, a PE ratio of 2.64 and a beta of -0.01. The business has a fifty day moving average price of $40.68 and a 200-day moving average price of $50.73.

Scorpio Tankers (NYSE:STNG) last issued its 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 net margin of 53.76% and a return on equity of 18.01%. As a group, equities analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.65%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

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.