Scorpio Tankers Inc. $STNG Shares Sold by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 98.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 683 shares of the shipping company’s stock after selling 44,817 shares during the quarter. International Assets Investment Management LLC’s holdings in Scorpio Tankers were worth $57,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of STNG. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock worth $233,544,000 after buying an additional 122,874 shares during the last quarter. Bank of America Corp DE raised its position in shares of Scorpio Tankers by 9.3% during the 1st quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock valued at $18,244,000 after acquiring an additional 20,878 shares in the last quarter. Empowered Funds LLC lifted its stake in Scorpio Tankers by 20.9% during the first quarter. Empowered Funds LLC now owns 240,545 shares of the shipping company’s stock worth $17,959,000 after purchasing an additional 41,516 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Scorpio Tankers by 9.8% during the first quarter. Bank of New York Mellon Corp now owns 132,975 shares of the shipping company’s stock worth $9,928,000 after purchasing an additional 11,829 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Scorpio Tankers by 47.5% in the first quarter. Sei Investments Co. now owns 118,751 shares of the shipping company’s stock worth $8,865,000 after purchasing an additional 38,216 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Analyst Ratings Changes

STNG has been the subject of several recent research reports. B. Riley Financial reiterated a “buy” rating and set a $130.00 target price (up from $120.00) on shares of Scorpio Tankers in a research note on Thursday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Truist Financial set a $130.00 price objective on shares of Scorpio Tankers in a research note on Thursday, October 29th. Bank of America restated an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $110.00 target price on shares of Scorpio Tankers in a report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $109.56.

Scorpio Tankers Stock Performance

Shares of STNG stock traded up $0.10 during trading hours on Friday, reaching $80.84. The stock had a trading volume of 674,867 shares, compared to its average volume of 1,250,250. The firm has a market capitalization of $4.08 billion, a PE ratio of 4.28, a price-to-earnings-growth ratio of 1.77 and a beta of -0.10. The firm has a 50-day simple moving average of $84.38 and a 200-day simple moving average of $77.43. Scorpio Tankers Inc. has a twelve month low of $48.93 and a twelve month high of $95.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 20.65 and a quick ratio of 20.59.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, October 28th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.43. Scorpio Tankers had a net margin of 77.07% and a return on equity of 17.06%. The firm had revenue of $266.47 million during the quarter, compared to analyst estimates of $243.98 million. During the same period in the previous year, the business posted $1.49 EPS. Scorpio Tankers’s revenue was up 10.4% on a year-over-year basis. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 15.59 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a $0.75 dividend. The ex-dividend date is Friday, November 13th. This represents a $3.00 annualized dividend and a yield of 3.7%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.45. Scorpio Tankers’s payout ratio is 9.53%.

Insider Activity

In other Scorpio Tankers news, insider Auste Adelborg sold 6,834 shares of Scorpio Tankers stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $89.64, for a total transaction of $612,599.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Robert Bugbee sold 231,799 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $86.19, for a total value of $19,978,755.81. Following the transaction, the president owned 665,288 shares of the company’s stock, valued at $57,341,172.72. This trade represents a 25.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 654,770 shares of company stock worth $58,404,395 over the last ninety days. 7.34% of the stock is currently owned by company insiders.

Scorpio Tankers Profile

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as petrochemical feedstocks and other liquid products.

Its fleet has historically included medium-range, handymax and long-range product tankers, allowing Scorpio Tankers to serve both regional and long-haul trade routes. The company’s vessels transport cargoes between major refining, storage and consumption centers across international markets, supporting energy companies, commodity traders and other commercial customers.

Scorpio Tankers was established in 2009 and is incorporated in the Marshall Islands, with corporate operations based in Monaco.