Royce & Associates LP Has $4.07 Million Position in Scorpio Tankers Inc. $STNG

Royce & Associates LP lowered its position in Scorpio Tankers Inc. (NYSE:STNG) by 50.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 80,108 shares of the shipping company’s stock after selling 81,900 shares during the period. Royce & Associates LP owned 0.16% of Scorpio Tankers worth $4,072,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. increased 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 worth $26,000 after buying an additional 246 shares during the last quarter. Global Retirement Partners LLC increased its holdings in Scorpio Tankers by 1,645.2% in the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after buying an additional 510 shares during the last quarter. 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 acquired a new position in Scorpio Tankers during the third quarter valued at approximately $36,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Scorpio Tankers during the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 0.2%

Shares of STNG stock opened at $74.49 on Friday. Scorpio Tankers Inc. has a 12 month low of $37.96 and a 12 month high of $87.39. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. The company has a market cap of $3.76 billion, a PE ratio of 7.32 and a beta of -0.24. The business’s 50 day moving average is $77.68 and its two-hundred day moving average is $67.33.

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. Equities analysts predict that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Announces Dividend

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 2.4%. The ex-dividend date of this dividend is Friday, May 29th. Scorpio Tankers’s dividend payout ratio is currently 17.70%.

Wall Street Analyst Weigh In

Several brokerages have commented on STNG. Jefferies Financial Group began coverage on Scorpio Tankers in a report on Friday, April 24th. They set a “buy” rating and a $90.00 price target on the stock. Dnb Carnegie downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Bank of America upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their price target for the company from $76.00 to $100.00 in a report on Thursday, May 7th. Evercore reiterated an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a report on Wednesday. Finally, Wall Street Zen upgraded Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $93.50.

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.