DNB Asset Management AS Sells 55,722 Shares of Scorpio Tankers Inc. $STNG

Key Points

• DNB Asset Management AS cut its stake in Scorpio Tankers by 18.2% in the fourth quarter, selling 55,722 shares and leaving it with 250,577 shares valued at about $12.7 million. Institutional investors still own a majority of the stock, at 54.64%.
• Scorpio Tankers beat earnings expectations in its latest quarterly report, posting $3.02 EPS on revenue of $312.86 million, both above analyst forecasts. Revenue jumped 46.2% year over year, and analysts now expect full-year EPS of 11.44.
• Analysts remain broadly positive on STNG, with an average rating of “Moderate Buy” and an average price target of $93.17. Recent updates included BTIG raising its target to $100 and Wall Street Zen upgrading the stock to “strong-buy.”

DNB Asset Management AS reduced its stake in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,577 shares of the shipping company's stock after selling 55,722 shares during the quarter. DNB Asset Management AS owned about 0.49% of Scorpio Tankers worth $12,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc lifted its position in Scorpio Tankers by 17.4% during the third quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company's stock valued at $65,000 after purchasing an additional 172 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Scorpio Tankers by 15.8% during the third 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. Clearstead Advisors LLC lifted 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 valued at $28,000 after purchasing an additional 205 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Scorpio Tankers by 1.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company's stock valued at $680,000 after purchasing an additional 223 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Scorpio Tankers by 110.3% during the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company's stock valued at $26,000 after purchasing an additional 246 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

STNG has been the subject of several research analyst reports. Evercore set a $96.00 target price on shares of Scorpio Tankers in a research report on Tuesday, May 5th. BTIG Research lifted their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of Scorpio Tankers from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 9th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $83.00 target price on shares of Scorpio Tankers in a research report on Friday, February 13th. Finally, B. Riley Financial reiterated a "buy" rating on shares of Scorpio Tankers in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Scorpio Tankers presently has an average rating of "Moderate Buy" and an average price target of $93.17.

Scorpio Tankers Trading Up 0.1%

STNG stock opened at $82.17 on Monday. The company has a market capitalization of $4.14 billion, a PE ratio of 8.08 and a beta of -0.24. Scorpio Tankers Inc. has a one year low of $37.96 and a one year high of $87.39. The company's 50 day moving average price is $76.19 and its two-hundred day moving average price is $66.15. 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 (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm posted $1.03 earnings per share. As a group, analysts predict that Scorpio Tankers Inc. will post 11.44 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Scorpio Tankers's dividend payout ratio (DPR) is 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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