WealthTrust Axiom LLC decreased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG – Get Rating) by 40.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,250 shares of the shipping company's stock after selling 20,850 shares during the quarter. WealthTrust Axiom LLC's holdings in Scorpio Tankers were worth $1,313,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Nisa Investment Advisors LLC acquired a new stake in shares of Scorpio Tankers during the second quarter worth $28,000. US Bancorp DE lifted its holdings in shares of Scorpio Tankers by 38.7% during the second quarter. US Bancorp DE now owns 1,082 shares of the shipping company's stock worth $37,000 after buying an additional 302 shares in the last quarter. Ellevest Inc. lifted its holdings in shares of Scorpio Tankers by 108.6% during the second quarter. Ellevest Inc. now owns 1,882 shares of the shipping company's stock worth $65,000 after buying an additional 980 shares in the last quarter. Strs Ohio acquired a new stake in shares of Scorpio Tankers during the third quarter worth $75,000. Finally, Captrust Financial Advisors lifted its holdings in shares of Scorpio Tankers by 243.8% during the second quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company's stock worth $78,000 after buying an additional 1,599 shares in the last quarter. Institutional investors and hedge funds own 54.53% of the company's stock.

Scorpio Tankers Trading Down 1.1 %

Shares of NYSE:STNG traded down $0.56 during midday trading on Wednesday, hitting $52.02. 36,624 shares of the stock were exchanged, compared to its average volume of 2,060,336. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.47, a P/E/G ratio of 0.16 and a beta of 0.50. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.54 and a current ratio of 1.54. The business's 50-day moving average price is $52.02 and its 200 day moving average price is $45.44. Scorpio Tankers Inc. has a 12 month low of $11.02 and a 12 month high of $57.71.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend was Wednesday, November 16th. Scorpio Tankers's dividend payout ratio (DPR) is currently 7.97%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STNG shares. B. Riley lifted their target price on Scorpio Tankers from $50.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, November 2nd. Deutsche Bank Aktiengesellschaft raised their price target on Scorpio Tankers from $52.00 to $55.00 and gave the stock a "hold" rating in a research report on Thursday, January 12th. BTIG Research raised their price target on Scorpio Tankers from $60.00 to $70.00 in a research report on Friday, December 9th. Jefferies Financial Group raised their price target on Scorpio Tankers from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, December 14th. Finally, TheStreet upgraded Scorpio Tankers from a "c" rating to a "b-" rating in a research report on Wednesday, November 2nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.71.

Scorpio Tankers Company Profile

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Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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