LSV Asset Management Sells 29,065 Shares of Scorpio Tankers Inc. $STNG

LSV Asset Management lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 1.7% in the fourth quarter, Holdings Channel reports. The firm owned 1,725,486 shares of the shipping company’s stock after selling 29,065 shares during the period. LSV Asset Management’s holdings in Scorpio Tankers were worth $87,706,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. boosted its position in Scorpio Tankers by 110.3% during the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the period. Global Retirement Partners LLC boosted its position in Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after purchasing an additional 510 shares during the period. Clearstead Advisors LLC boosted its position in Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares during the period. Quantbot Technologies LP bought a new stake in Scorpio Tankers during the third quarter worth approximately $36,000. Finally, Aster Capital Management DIFC Ltd bought a new stake in Scorpio Tankers during the third quarter worth approximately $41,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.5%

STNG opened at $80.24 on Friday. Scorpio Tankers Inc. has a 1-year low of $37.96 and a 1-year high of $87.39. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4.05 billion, a price-to-earnings ratio of 7.89 and a beta of -0.24. The business has a 50 day moving average of $76.68 and a 200-day moving average of $66.79.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share 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 company had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. During the same period in the prior year, the business earned $1.03 earnings per share. Scorpio Tankers’s revenue for the quarter was up 46.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 11.44 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, May 29th. Scorpio Tankers’s dividend payout ratio is currently 17.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Dnb Carnegie cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Jefferies Financial Group started coverage on Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 target price for the company. BTIG Research increased their price objective on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Finally, Evercore set a $96.00 price objective on Scorpio Tankers in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.17.

Scorpio Tankers 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.