Empowered Funds LLC Has $17.96 Million Stock Holdings in Scorpio Tankers Inc. $STNG

Key Points

• Empowered Funds LLC increased its Scorpio Tankers stake by 20.9% in the first quarter, holding 240,545 shares valued at approximately $17.96 million. Institutional investors collectively own 54.64% of the company.
• Scorpio Tankers reported quarterly EPS of $3.02, beating estimates of $2.79, while revenue rose 46.2% year over year to $312.86 million. The company declared a quarterly dividend of $0.45, equivalent to a 2.3% yield.
• STNG shares traded at $79.25, and analysts maintain a “Moderate Buy” consensus with an average price target of $88.14, despite ratings ranging from Strong Buy to Sell.

Empowered Funds LLC increased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 240,545 shares of the shipping company's stock after acquiring an additional 41,516 shares during the period. Empowered Funds LLC owned about 0.48% of Scorpio Tankers worth $17,959,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC lifted 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 grew its stake in shares of 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 period. Parallel Advisors LLC raised its holdings 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 worth $159,000 after buying an additional 257 shares in the last quarter. Allworth Financial LP lifted its position in shares of Scorpio Tankers by 2.4% during the 4th quarter. Allworth Financial LP now owns 11,257 shares of the shipping company's stock worth $572,000 after buying an additional 261 shares during the period. Finally, Root Financial Partners LLC boosted its stake in Scorpio Tankers by 193.9% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company's stock valued at $39,000 after buying an additional 347 shares in the last quarter. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers Trading Up 1.1%

Shares of NYSE STNG opened at $79.25 on Wednesday. The company's 50 day simple moving average is $77.10 and its 200 day simple moving average is $73.71. Scorpio Tankers Inc. has a fifty-two week low of $43.78 and a fifty-two week high of $87.39. The firm 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.

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. 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 for the quarter, compared to analysts' expectations of $286.81 million. During the same period last year, the firm earned $1.03 earnings per share. The business's revenue for the quarter was up 46.2% on a year-over-year basis. On average, analysts predict that Scorpio Tankers Inc. will post 12.15 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.45 dividend. 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 brokerages have issued reports on STNG. Zacks Research raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 14th. Jefferies Financial Group started coverage on shares of Scorpio Tankers in a report on Friday, April 24th. They set a "buy" rating and a $90.00 price target for the company. Bank of America lowered shares of Scorpio Tankers from a "buy" rating to an "underperform" rating and reduced their price target for the company from $100.00 to $78.00 in a research report on Tuesday, June 30th. Wall Street Zen cut shares of Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley set a $82.00 price objective on shares of Scorpio Tankers and gave the stock an "equal weight" rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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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