Integrated Advisors Network LLC Invests $2.53 Million in Scorpio Tankers Inc. $STNG

Key Points

• Integrated Advisors Network LLC bought a new stake in Scorpio Tankers during the first quarter, purchasing 33,845 shares worth about $2.53 million.
• Scorpio Tankers reported strong quarterly results, with $3.02 EPS beating estimates and revenue rising 46.2% year over year to $312.86 million.
• The company also paid a $0.45 quarterly dividend and has drawn mixed analyst sentiment, with an average price target of $89.83 and a consensus rating of Hold.

Integrated Advisors Network LLC purchased a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,845 shares of the shipping company's stock, valued at approximately $2,527,000. Integrated Advisors Network LLC owned 0.07% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Scorpio Tankers by 4.5% during the 1st 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 in the last quarter. Intech Investment Management LLC boosted its holdings in shares of Scorpio Tankers by 9.4% in the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company's stock valued at $1,221,000 after acquiring an additional 2,802 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Scorpio Tankers by 11.2% in the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company's stock valued at $391,000 after acquiring an additional 1,005 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Scorpio Tankers by 593.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company's stock valued at $110,000 after acquiring an additional 2,402 shares during the period. Finally, Marshall Wace LLP increased its stake in shares of Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company's stock valued at $5,932,000 after acquiring an additional 4,618 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Trading Up 0.9%

Shares of STNG opened at $74.30 on Wednesday. The business's 50-day moving average price is $78.42 and its 200 day moving average price is $70.86. The stock has a market capitalization of $3.75 billion, a P/E ratio of 7.31 and a beta of -0.24. Scorpio Tankers Inc. has a 1-year low of $41.50 and a 1-year high of $87.39. 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 posted its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 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 company had revenue of $312.86 million during the quarter, compared to analyst estimates of $286.81 million. During the same period in the prior year, the firm earned $1.03 earnings per share. The business's quarterly revenue was up 46.2% on a year-over-year basis. Analysts expect that Scorpio Tankers Inc. will post 13.6 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Scorpio Tankers's dividend payout ratio (DPR) is currently 17.70%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Evercore reaffirmed an "outperform" rating and set a $98.00 price target on shares of Scorpio Tankers in a research note on Wednesday, May 27th. Zacks Research lowered Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a report on Monday, June 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Scorpio Tankers in a report on Thursday, June 18th. BTIG Research boosted their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Finally, Dnb Carnegie downgraded shares of Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a report on Thursday, March 12th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $89.83.

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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