Dimensional Fund Advisors LP Has $233.54 Million Stock Position in Scorpio Tankers Inc. $STNG

Key Points

• Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 4.1% in the first quarter, ending with 3.13 million shares worth about $233.5 million, or 6.2% of the company.
• Several analysts remain constructive on STNG, with recent actions including upgrades from Zacks and price target increases from BTIG and Evercore; the stock now carries a Moderate Buy consensus target of $88.14.
• Scorpio Tankers reported strong quarterly results, beating earnings and revenue estimates, and also paid a $0.45 quarterly dividend that implies a 2.3% annualized yield.

Dimensional Fund Advisors LP increased its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,128,150 shares of the shipping company's stock after buying an additional 122,874 shares during the period. Dimensional Fund Advisors LP owned 6.20% of Scorpio Tankers worth $233,544,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Scorpio Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company's stock worth $996,000 after acquiring an additional 1,144 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company's stock valued at $1,221,000 after acquiring an additional 2,802 shares during the period. Legal & General Group Plc grew its position in shares of Scorpio Tankers by 11.2% in the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company's stock valued at $391,000 after purchasing an additional 1,005 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Scorpio Tankers by 593.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company's stock valued at $110,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Scorpio Tankers by 3.1% in the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company's stock worth $5,932,000 after purchasing an additional 4,618 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STNG. Evercore reissued an "outperform" rating and set a $94.00 price objective on shares of Scorpio Tankers in a research report on Wednesday. Zacks Research upgraded shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. BTIG Research lifted their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Jefferies Financial Group began coverage on Scorpio Tankers in a research note on Friday, April 24th. They set a "buy" rating and a $90.00 price target on the stock. Finally, Morgan Stanley set a $82.00 price target on Scorpio Tankers and gave the company an "equal weight" rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $88.14.

Scorpio Tankers Stock Up 1.0%

STNG opened at $79.24 on Friday. The company has a market capitalization of $4.00 billion, a P/E ratio of 7.79 and a beta of -0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. The firm's fifty day moving average price is $77.24 and its two-hundred day moving average price is $73.15. Scorpio Tankers Inc. has a fifty-two week low of $43.40 and a fifty-two week high of $87.39.

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

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Scorpio Tankers's payout ratio is presently 17.70%.

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.

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