Engineers Gate Manager LP Sells 25,152 Shares of Scorpio Tankers Inc. $STNG

Key Points

• Engineers Gate Manager LP reduced its Scorpio Tankers stake by 27%, selling 25,152 shares and retaining 67,942 shares valued at approximately $4.7 million. Institutional investors collectively own 54.64% of the company.
• Analyst views are mixed: five analysts rate STNG a Buy, five rate it Hold, and one rates it Sell. The stock has a consensus rating of Hold and an average price target of $90.14.
• Scorpio Tankers reported quarterly EPS of $4.68, exceeding estimates, while revenue rose 77.5% year over year to $408.73 million. The company also pays a quarterly dividend of $0.45 per share, representing a 2.1% yield.

Engineers Gate Manager LP lessened its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 27.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,942 shares of the shipping company's stock after selling 25,152 shares during the period. Engineers Gate Manager LP owned approximately 0.13% of Scorpio Tankers worth $4,706,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC grew its position in shares of Scorpio Tankers by 1,645.2% during the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company's stock valued at $27,000 after acquiring an additional 510 shares during the period. Assetmark Inc. bought a new stake in shares of Scorpio Tankers during the first quarter valued at about $28,000. Zions Bancorporation National Association UT bought a new stake in shares of Scorpio Tankers during the fourth quarter valued at about $29,000. Smartleaf Asset Management LLC lifted its holdings in shares of Scorpio Tankers by 154.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company's stock worth $33,000 after buying an additional 392 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Scorpio Tankers in the 3rd quarter worth approximately $36,000. Institutional investors own 54.64% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on STNG. Jefferies Financial Group restated a "buy" rating and issued a $100.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Zacks Research lowered Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Evercore reaffirmed an "outperform" rating and set a $94.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Morgan Stanley set a $86.00 price target on Scorpio Tankers in a research note on Tuesday, August 18th. Finally, Wall Street Zen cut Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $90.14.

Scorpio Tankers Stock Performance

STNG stock opened at $84.37 on Friday. The stock has a market capitalization of $4.25 billion, a PE ratio of 5.27 and a beta of -0.22. The stock's 50 day simple moving average is $78.38 and its 200 day simple moving average is $77.18. Scorpio Tankers Inc. has a 12-month low of $48.93 and a 12-month high of $87.39. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.12. The company had revenue of $408.73 million for the quarter, compared to analysts' expectations of $398.25 million. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The firm's quarterly revenue was up 77.5% on a year-over-year basis. During the same quarter last year, the company posted $1.41 earnings per share. As a group, research analysts forecast that Scorpio Tankers Inc. will post 11.21 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Monday, August 17th. Scorpio Tankers's dividend payout ratio (DPR) is currently 11.24%.

Scorpio Tankers Company Profile

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers' fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.

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