Federated Hermes Inc. Sells 35,535 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Federated Hermes Inc. lowered its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 50.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,120 shares of the shipping company’s stock after selling 35,535 shares during the period. Federated Hermes Inc. owned 0.06% of Scorpio Tankers worth $2,135,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in Scorpio Tankers by 1.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after acquiring an additional 171 shares during the period. U S Global Investors Inc. increased its stake in Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after acquiring an additional 220 shares during the period. Raymond James & Associates increased its stake in Scorpio Tankers by 5.6% during the 3rd quarter. Raymond James & Associates now owns 6,203 shares of the shipping company’s stock worth $336,000 after acquiring an additional 331 shares during the period. Bleakley Financial Group LLC increased its stake in Scorpio Tankers by 5.8% during the 4th quarter. Bleakley Financial Group LLC now owns 8,191 shares of the shipping company’s stock worth $498,000 after acquiring an additional 446 shares during the period. Finally, Simplicity Solutions LLC increased its stake in Scorpio Tankers by 5.8% during the 4th quarter. Simplicity Solutions LLC now owns 8,191 shares of the shipping company’s stock worth $498,000 after acquiring an additional 446 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $72.77 on Monday. The company has a market cap of $3.86 billion, a price-to-earnings ratio of 7.32, a PEG ratio of 1.25 and a beta of 0.21. Scorpio Tankers Inc. has a 12 month low of $40.34 and a 12 month high of $74.04. The business’s 50 day simple moving average is $70.01 and its 200 day simple moving average is $63.90. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.13. The business had revenue of $336.30 million for the quarter, compared to analysts’ expectations of $335.70 million. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The firm’s revenue was down 31.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.24 earnings per share. Sell-side analysts forecast that Scorpio Tankers Inc. will post 12.54 EPS for the current year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.20%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 7th. Scorpio Tankers’s dividend payout ratio is presently 16.10%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on STNG shares. JPMorgan Chase & Co. raised their price objective on Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Evercore ISI raised their target price on Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $74.00.

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.