Navellier & Associates Inc. grew its holdings in Scorpio Tankers Inc. (NYSE:STNG - Free Report) by 141.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,960 shares of the shipping company's stock after purchasing an additional 22,839 shares during the period. Navellier & Associates Inc. owned approximately 0.08% of Scorpio Tankers worth $2,698,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Scorpio Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company's stock valued at $996,000 after buying an additional 1,144 shares in the last quarter. Intech Investment Management LLC raised its holdings in Scorpio Tankers by 9.4% during the 1st 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 during the period. Legal & General Group Plc lifted its position in shares of Scorpio Tankers by 11.2% during the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company's stock worth $391,000 after acquiring an additional 1,005 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position 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 worth $110,000 after acquiring an additional 2,402 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of 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 acquiring an additional 4,618 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. Evercore reiterated an "outperform" rating and issued a $94.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 22nd. Weiss Ratings restated a "hold (c)" rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Bank of America downgraded Scorpio Tankers from a "buy" rating to an "underperform" rating and cut their target price for the stock from $100.00 to $78.00 in a research note on Tuesday, June 30th. BTIG Research upped their price target on Scorpio Tankers from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. 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 analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $90.14.
Get Our Latest Stock Report on STNG
Scorpio Tankers Stock Up 1.0%
STNG stock opened at $78.22 on Friday. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14. The company's 50 day moving average is $76.92 and its 200 day moving average is $76.35. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 4.89 and a beta of -0.22. Scorpio Tankers Inc. has a 1-year low of $48.93 and a 1-year high of $87.39.
Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The business had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. During the same period in the previous year, the business posted $1.41 earnings per share. Scorpio Tankers's revenue for the quarter was up 77.5% on a year-over-year basis. Sell-side analysts predict that Scorpio Tankers Inc. will post 11.06 EPS for the current fiscal year.
Scorpio Tankers Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, August 17th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Scorpio Tankers's dividend payout ratio (DPR) is 11.24%.
Scorpio Tankers Company Profile
(
Free Report)
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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