Fox Run Management L.L.C. Buys New Holdings in Scorpio Tankers Inc. $STNG

Fox Run Management L.L.C. purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,741 shares of the shipping company’s stock, valued at approximately $938,000.

A number of other large investors also recently modified their holdings of STNG. Encompass Capital Advisors LLC purchased a new stake in shares of Scorpio Tankers during the 2nd quarter worth $30,890,000. AQR Capital Management LLC lifted its holdings in Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after buying an additional 307,815 shares during the last quarter. Donald Smith & CO. Inc. acquired a new position in shares of Scorpio Tankers during the 2nd quarter worth about $10,845,000. American Century Companies Inc. boosted its position in shares of Scorpio Tankers by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock worth $69,597,000 after acquiring an additional 153,475 shares in the last quarter. Finally, Private Management Group Inc. increased its holdings in shares of Scorpio Tankers by 58.2% in the 2nd quarter. Private Management Group Inc. now owns 253,933 shares of the shipping company’s stock valued at $9,936,000 after acquiring an additional 93,416 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Up 4.3%

NYSE STNG opened at $76.96 on Friday. The firm’s fifty day moving average is $60.82 and its two-hundred day moving average is $57.63. Scorpio Tankers Inc. has a one year low of $30.63 and a one year high of $77.02. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. The firm has a market cap of $3.98 billion, a PE ratio of 10.89 and a beta of -0.25.

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

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Scorpio Tankers’s dividend payout ratio is presently 23.76%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday, January 9th. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. BTIG Research upped their price objective on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.67.

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.