Scorpio Tankers Inc. $STNG Shares Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. increased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 1,708.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,483 shares of the shipping company’s stock after acquiring an additional 8,014 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Scorpio Tankers were worth $431,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after acquiring an additional 1,144 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after purchasing an additional 2,802 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Scorpio Tankers by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,005 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 593.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Scorpio Tankers by 3.1% in the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after purchasing an additional 4,618 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on STNG. Evercore set a $96.00 price target on shares of Scorpio Tankers in a report on Tuesday. BTIG Research lifted their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday. Wall Street Zen upgraded shares of Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday. B. Riley Financial reiterated a “buy” rating on shares of Scorpio Tankers in a report on Friday, February 13th. Finally, Zacks Research upgraded shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.17.

Scorpio Tankers Stock Performance

NYSE:STNG opened at $84.36 on Friday. The firm’s fifty day simple moving average is $75.54 and its 200 day simple moving average is $65.12. The company has a current ratio of 13.98, a quick ratio of 9.23 and a debt-to-equity ratio of 0.16. Scorpio Tankers Inc. has a twelve month low of $37.96 and a twelve month high of $87.39. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 8.29 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Tuesday, May 5th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The firm had revenue of $312.86 million during the quarter, compared to the consensus estimate of $286.81 million. During the same period in the prior year, the firm earned $1.03 EPS. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 11.44 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, May 29th. Scorpio Tankers’s dividend payout ratio is currently 17.70%.

More Scorpio Tankers News

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Bank of America upgraded Scorpio Tankers to Buy and raised its price target to $100, citing expectations that tanker rates will remain elevated. Read More
• Positive Sentiment: BTIG increased its price target on Scorpio Tankers to $100, reinforcing a more bullish Wall Street outlook. Read More
• Positive Sentiment: Zacks said Scorpio Tankers is showing strong momentum characteristics and could continue higher as earnings estimates have been revised upward. Article Title
• Positive Sentiment: The stock was also added to Zacks’ Rank #1 Strong Buy momentum and income stock lists, which may attract additional investor interest. Article Title
• Neutral Sentiment: Scorpio Tankers announced a reopening of its 1.75% convertible notes due 2031, increasing the offering to $200 million from $150 million, while also planning to repurchase about 649,427 shares. The buyback could help offset dilution, but the new notes add leverage and potential future share issuance. Article Title

Scorpio Tankers Company Profile

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.