Ticino Wealth Makes New Investment in Scorpio Tankers Inc. $STNG

Key Points

• Ticino Wealth purchased a new Q4 position of 187,415 shares (~$9.53M) in Scorpio Tankers, making the stock its 4th-largest holding at about 3.5% of Ticino’s portfolio and representing roughly 0.37% ownership of STNG.
• Analysts show a consensus rating of “Moderate Buy” with a $80.50 price target (breakdown: 1 Strong Buy, 5 Buy, 4 Hold, 1 Sell), reflecting mixed but generally positive sentiment.
• Scorpio Tankers beat Q4 estimates with EPS $1.62 vs $1.37 and revenue up 23.8% year-over-year, and it raised its quarterly dividend to $0.45 (annualized $1.80, ~2.3% yield).

Ticino Wealth purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 187,415 shares of the shipping company's stock, valued at approximately $9,526,000. Scorpio Tankers accounts for about 3.5% of Ticino Wealth's portfolio, making the stock its 4th largest position. Ticino Wealth owned approximately 0.37% of Scorpio Tankers as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Scorpio Tankers by 17.4% during the third quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company's stock worth $65,000 after buying an additional 172 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in shares of Scorpio Tankers by 15.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company's stock worth $79,000 after purchasing an additional 194 shares in the last quarter. Clearstead Advisors LLC lifted its position in shares of Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company's stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Scorpio Tankers by 1.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company's stock worth $680,000 after buying an additional 223 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Scorpio Tankers by 110.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company's stock valued at $26,000 after purchasing an additional 246 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STNG. Wall Street Zen upgraded Scorpio Tankers from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. B. Riley Financial reiterated a "buy" rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Weiss Ratings restated a "hold (c)" rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Bank of America raised their price objective on shares of Scorpio Tankers from $70.00 to $72.00 and gave the stock an "underperform" rating in a report on Tuesday, March 31st. Finally, Moffett Nathanson upgraded shares of Scorpio Tankers to a "neutral" rating in a research note on Monday, January 12th. One investment 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.50.

Scorpio Tankers Price Performance

NYSE:STNG opened at $77.74 on Tuesday. The stock has a fifty day moving average of $73.40 and a 200 day moving average of $63.17. Scorpio Tankers Inc. has a 52-week low of $33.63 and a 52-week high of $81.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. The firm has a market capitalization of $4.02 billion, a price-to-earnings ratio of 11.07 and a beta of -0.32.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Friday, February 13th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The firm had revenue of $252.65 million for the quarter, compared to analysts' expectations of $238.93 million. During the same period last year, the firm earned $0.63 earnings per share. The company's revenue for the quarter was up 23.8% compared to the same quarter last year. On average, research analysts expect that Scorpio Tankers Inc. will post 8.08 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, March 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. This is an increase from Scorpio Tankers's previous quarterly dividend of $0.42. Scorpio Tankers's dividend payout ratio (DPR) is currently 25.46%.

Scorpio Tankers 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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