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

PDT Partners LLC lessened its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 20.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,844 shares of the shipping company’s stock after selling 12,700 shares during the period. PDT Partners LLC owned about 0.10% of Scorpio Tankers worth $3,625,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

STNG has been the topic of several research reports. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, August 16th. Bank of America lowered their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI decreased their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Finally, Jefferies Financial Group reduced their price objective on shares of Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers currently has an average rating of “Hold” and a consensus price target of $76.40.

Scorpio Tankers Stock Down 0.1 %

Scorpio Tankers stock opened at $50.66 on Friday. Scorpio Tankers Inc. has a fifty-two week low of $49.98 and a fifty-two week high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The firm’s 50-day simple moving average is $62.02 and its 200 day simple moving average is $71.20. The stock has a market cap of $2.56 billion, a PE ratio of 3.63 and a beta of 0.18.

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 firm had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.91 EPS. Research analysts predict that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.40 dividend. 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 dividend payout ratio is currently 11.47%.

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.