Cooper Creek Partners Management LLC Trims Position in Scorpio Tankers Inc. $STNG

Key Points

• Cooper Creek Partners cut its Scorpio Tankers stake by 71.1% in the first quarter, selling 502,669 shares and leaving it with 204,064 shares valued at about $15.2 million.
• Scorpio Tankers reported better-than-expected Q1 earnings of $3.02 per share on revenue of $312.86 million, with revenue up 46.2% year over year.
• Analysts remain mixed on STNG, but the stock currently carries a Moderate Buy consensus and a target price of $88.14, while the company also pays a quarterly dividend of $0.45 per share.

Cooper Creek Partners Management LLC decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 71.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 204,064 shares of the shipping company's stock after selling 502,669 shares during the quarter. Cooper Creek Partners Management LLC owned approximately 0.40% of Scorpio Tankers worth $15,235,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of STNG. Kestra Advisory Services LLC raised its stake in Scorpio Tankers by 3.1% during the fourth quarter. Kestra Advisory Services LLC now owns 5,286 shares of the shipping company's stock worth $269,000 after purchasing an additional 158 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Scorpio Tankers by 15.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company's stock valued at $79,000 after purchasing an additional 194 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Scorpio Tankers by 13.8% in the 1st quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company's stock valued at $159,000 after buying an additional 257 shares during the period. Allworth Financial LP grew its stake in shares of Scorpio Tankers by 2.4% in the 4th quarter. Allworth Financial LP now owns 11,257 shares of the shipping company's stock valued at $572,000 after buying an additional 261 shares during the period. Finally, Root Financial Partners LLC increased its holdings in shares of Scorpio Tankers by 193.9% during the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company's stock worth $39,000 after buying an additional 347 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $79.34 on Friday. The firm's 50 day moving average price is $77.18 and its 200-day moving average price is $73.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98. Scorpio Tankers Inc. has a one year low of $43.40 and a one year high of $87.39. The firm has a market cap of $4.00 billion, a P/E ratio of 7.80 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, topping analysts' consensus estimates of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The firm had revenue of $312.86 million during the quarter, compared to analysts' expectations of $286.81 million. During the same quarter last year, the company posted $1.03 EPS. The firm's quarterly revenue was up 46.2% on a year-over-year basis. As a group, equities research analysts predict that Scorpio Tankers Inc. will post 12.15 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, May 29th. Scorpio Tankers's dividend payout ratio (DPR) is currently 17.70%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STNG. Jefferies Financial Group assumed coverage on Scorpio Tankers in a report on Friday, April 24th. They issued a "buy" rating and a $90.00 price objective on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Evercore restated an "outperform" rating and issued a $94.00 target price on shares of Scorpio Tankers in a research report on Wednesday. BTIG Research upped their price target on Scorpio Tankers from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Finally, Bank of America cut Scorpio Tankers from a "buy" rating to an "underperform" rating and lowered their price target for the stock from $100.00 to $78.00 in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.14.

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.

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