Nisa Investment Advisors LLC Sells 72,955 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Nisa Investment Advisors LLC decreased its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 98.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,481 shares of the shipping company’s stock after selling 72,955 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Scorpio Tankers were worth $106,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Truist Financial Corp boosted its position in Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after purchasing an additional 149 shares during the period. Newbridge Financial Services Group Inc. lifted its position in shares of Scorpio Tankers by 34.2% during 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. Quarry LP increased its holdings in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares during the period. EverSource Wealth Advisors LLC raised its position in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analysts Set New Price Targets

STNG has been the subject of a number of research reports. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their price target for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, October 29th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $78.40.

Scorpio Tankers Price Performance

STNG opened at $55.42 on Friday. The firm has a 50-day moving average of $66.99 and a 200 day moving average of $73.39. Scorpio Tankers Inc. has a fifty-two week low of $52.68 and a fifty-two week high of $84.67. The firm has a market cap of $2.80 billion, a P/E ratio of 3.97 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The company’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.91 earnings per share. On average, research analysts expect that Scorpio Tankers Inc. will post 11.13 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is 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.