Neo Ivy Capital Management Invests $423,000 in Scorpio Tankers Inc. $STNG

Neo Ivy Capital Management acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,538 shares of the shipping company’s stock, valued at approximately $423,000.

A number of other hedge funds also recently bought and sold shares of STNG. SBI Securities Co. Ltd. lifted its holdings in Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 246 shares during the period. Clearstead Advisors LLC grew its stake in shares of Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 205 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in shares of Scorpio Tankers by 143.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock valued at $31,000 after purchasing an additional 460 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Scorpio Tankers by 61.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 350 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Scorpio Tankers during the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on STNG. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a report on Friday, February 13th. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Evercore reiterated an “outperform” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Finally, Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $79.67.

Scorpio Tankers Stock Down 2.3%

NYSE STNG opened at $76.88 on Monday. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $81.85. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.98 billion, a P/E ratio of 10.87 and a beta of -0.31. The stock’s 50-day moving average price is $64.13 and its 200-day moving average price is $59.22.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The company had revenue of $252.65 million during the quarter, compared to analyst estimates of $238.93 million. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. On average, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, March 6th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s payout ratio is 25.46%.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.