GSA Capital Partners LLP Purchases 50,902 Shares of Scorpio Tankers Inc. $STNG

Key Points

• GSA Capital Partners increased its Scorpio Tankers position by 414.9% in the fourth quarter, buying 50,902 additional shares and bringing its stake to 63,171 shares worth about $3.21 million.
• Several analysts turned more optimistic on STNG, including Bank of America upgrading it to buy and raising its price target to $100. The stock now carries a consensus rating of Moderate Buy with an average target of $93.17.
• Scorpio Tankers reported stronger-than-expected quarterly results, with EPS of $3.02 beating estimates and revenue rising 46.2% year over year. The company also announced a $0.45 quarterly dividend, equivalent to a 2.2% yield.

GSA Capital Partners LLP grew its position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 414.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 63,171 shares of the shipping company's stock after acquiring an additional 50,902 shares during the quarter. Scorpio Tankers comprises approximately 0.3% of GSA Capital Partners LLP's holdings, making the stock its 16th largest holding. GSA Capital Partners LLP owned 0.12% of Scorpio Tankers worth $3,211,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

STNG has been the subject of a number of analyst reports. Bank of America upgraded Scorpio Tankers from an "underperform" rating to a "buy" rating and raised their price target for the stock from $76.00 to $100.00 in a research report on Thursday, May 7th. Zacks Research upgraded Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 7th. BTIG Research raised their price target 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 initiated coverage on Scorpio Tankers in a research report on Friday, April 24th. They issued a "buy" rating and a $90.00 price target for the company. Finally, Dnb Carnegie downgraded Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Scorpio Tankers presently has an average rating of "Moderate Buy" and a consensus price target of $93.17.

Scorpio Tankers Stock Down 0.4%

NYSE:STNG opened at $81.79 on Tuesday. Scorpio Tankers Inc. has a twelve month low of $37.96 and a twelve month high of $87.39. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 8.04 and a beta of -0.24. The stock has a fifty day simple moving average of $76.25 and a 200-day simple moving average of $66.29. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business had revenue of $312.86 million during the quarter, compared to the consensus estimate of $286.81 million. During the same period last year, the company earned $1.03 earnings per share. The business's revenue for the quarter was up 46.2% compared to the same quarter last year. Analysts anticipate that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, May 29th. Scorpio Tankers's dividend payout ratio (DPR) is 17.70%.

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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