Hsbc Holdings PLC Acquires 14,641 Shares of Scorpio Tankers Inc. $STNG

Key Points

• HSBC Holdings PLC nearly doubled its stake in Scorpio Tankers during the first quarter, adding 14,641 shares to bring its total to 29,740 shares worth about $2.23 million.
• Scorpio Tankers posted strong quarterly results, reporting EPS of $3.02 versus estimates of $2.79 and revenue of $312.86 million, up 46.2% year over year.
• The company continues to return cash to shareholders with a quarterly dividend of $0.45 per share, equal to a 2.3% annualized yield, while analysts maintain a consensus rating of “Moderate Buy.”

Hsbc Holdings PLC increased its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 97.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,740 shares of the shipping company's stock after acquiring an additional 14,641 shares during the period. Hsbc Holdings PLC owned about 0.06% of Scorpio Tankers worth $2,229,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC increased its holdings in Scorpio Tankers by 1,645.2% during the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company's stock worth $27,000 after purchasing an additional 510 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Scorpio Tankers in the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC boosted its position in shares of Scorpio Tankers by 154.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company's stock valued at $33,000 after buying an additional 392 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Scorpio Tankers during the third quarter valued at approximately $36,000. Finally, Root Financial Partners LLC grew its holdings in Scorpio Tankers by 193.9% during the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company's stock worth $39,000 after buying an additional 347 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $79.34 on Friday. The company has a market capitalization of $4.00 billion, a P/E ratio of 7.80 and a beta of -0.24. The company's 50-day moving average is $77.18 and its 200 day moving average is $73.19. 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 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 posted its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.79 by $0.23. The business had revenue of $312.86 million during 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 firm's quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.03 earnings per share. On average, equities research analysts forecast that Scorpio Tankers Inc. will post 12.15 earnings per share for the current year.

Scorpio Tankers Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group started coverage on Scorpio Tankers in a research note on Friday, April 24th. They set a "buy" rating and a $90.00 price objective on the stock. Zacks Research raised shares of Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 14th. Weiss Ratings restated a "hold (c)" rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Wall Street Zen cut shares of Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, July 14th. Finally, BTIG Research boosted their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. One 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.14.

Scorpio Tankers Company 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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