Los Angeles Capital Management LLC cut its position in shares of Scorpio Tankers Inc. (NYSE:STNG – Get Rating) by 11.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,230 shares of the shipping company's stock after selling 3,250 shares during the period. Los Angeles Capital Management LLC's holdings in Scorpio Tankers were worth $1,103,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new stake in Scorpio Tankers during the second quarter valued at approximately $28,000. US Bancorp DE raised its position in Scorpio Tankers by 38.7% during the second quarter. US Bancorp DE now owns 1,082 shares of the shipping company's stock valued at $37,000 after purchasing an additional 302 shares during the period. Ellevest Inc. raised its position in Scorpio Tankers by 108.6% during the second quarter. Ellevest Inc. now owns 1,882 shares of the shipping company's stock valued at $65,000 after purchasing an additional 980 shares during the period. Strs Ohio purchased a new stake in Scorpio Tankers during the third quarter valued at approximately $75,000. Finally, Captrust Financial Advisors raised its position in Scorpio Tankers by 243.8% during the second quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company's stock valued at $78,000 after purchasing an additional 1,599 shares during the period. 54.53% of the stock is owned by institutional investors.

Scorpio Tankers Stock Down 4.6 %

Shares of NYSE:STNG opened at $46.79 on Tuesday. Scorpio Tankers Inc. has a 52-week low of $11.02 and a 52-week high of $57.71. The stock has a market cap of $2.73 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 0.15 and a beta of 0.50. The business's 50 day moving average is $51.99 and its 200 day moving average is $45.91. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.44.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, November 16th. This represents a $0.40 annualized dividend and a yield of 0.85%. Scorpio Tankers's dividend payout ratio (DPR) is presently 7.97%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on STNG shares. TheStreet upgraded Scorpio Tankers from a "c" rating to a "b-" rating in a research report on Wednesday, November 2nd. StockNews.com upgraded Scorpio Tankers from a "hold" rating to a "buy" rating in a report on Tuesday, October 18th. B. Riley increased their price target 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 increased their price target on Scorpio Tankers from $52.00 to $55.00 and gave the stock a "hold" rating in a report on Thursday, January 12th. Finally, Jefferies Financial Group increased their price target on Scorpio Tankers from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Wednesday, December 14th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.71.

About Scorpio Tankers

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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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