Scorpio Tankers Inc. (NYSE:STNG) Shares Sold by Harvey Capital Management Inc.

Harvey Capital Management Inc. lowered its position in Scorpio Tankers Inc. (NYSE:STNG) by 70.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,815 shares of the shipping company’s stock after selling 23,246 shares during the quarter. Harvey Capital Management Inc.’s holdings in Scorpio Tankers were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in STNG. Truist Financial Corp grew its holdings in Scorpio Tankers by 1.4% in the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after buying an additional 149 shares in the last quarter. Segall Bryant & Hamill LLC grew its stake in shares of Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after purchasing an additional 252 shares in the last quarter. Chesapeake Capital Corp IL increased its holdings in shares of Scorpio Tankers by 6.4% during the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock valued at $419,000 after purchasing an additional 349 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Scorpio Tankers during the third quarter valued at $28,000. Finally, GAMMA Investing LLC raised its stake in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 0.1 %

Shares of NYSE:STNG opened at $48.12 on Wednesday. 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 stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 3.45 and a beta of 0.08. Scorpio Tankers Inc. has a 1-year low of $45.43 and a 1-year high of $84.67. The company has a 50 day moving average price of $49.64 and a 200 day moving average price of $60.28.

Wall Street Analyst Weigh In

STNG has been the subject of a number of recent analyst reports. Evercore ISI lowered their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Bank of America lowered their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Jefferies Financial Group lowered their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.75.

Scorpio Tankers Company 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.