Assenagon Asset Management S.A. Sells 377,550 Shares of Scorpio Tankers Inc. $STNG

Assenagon Asset Management S.A. trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 41.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 540,673 shares of the shipping company’s stock after selling 377,550 shares during the period. Assenagon Asset Management S.A.’s holdings in Scorpio Tankers were worth $37,447,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 acquiring an additional 1,144 shares during the period. Intech Investment Management LLC lifted its stake in shares of Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after purchasing an additional 2,802 shares during the period. Legal & General Group Plc lifted its stake in shares of Scorpio Tankers by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,005 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Scorpio Tankers by 593.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 2,402 shares during the period. Finally, Marshall Wace LLP boosted its position in shares of Scorpio Tankers by 3.1% in the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock worth $5,932,000 after purchasing an additional 4,618 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Trading Down 0.2%

STNG opened at $76.20 on Friday. The firm’s fifty day moving average is $76.75 and its two-hundred day moving average is $74.66. The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.87 and a current ratio of 6.93. The firm has a market cap of $3.84 billion, a PE ratio of 4.76 and a beta of -0.22. Scorpio Tankers Inc. has a twelve month low of $43.78 and a twelve month high of $87.39.

Scorpio Tankers (NYSE:STNG) last announced its quarterly 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 company had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. During the same quarter in the previous year, the business earned $1.41 EPS. The firm’s revenue was up 77.5% on a year-over-year basis. Equities research analysts anticipate that Scorpio Tankers Inc. will post 11.1 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Monday, August 17th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Evercore reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. BTIG Research increased their target price on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and set a $100.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 4th. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $100.00 to $78.00 in a research report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Scorpio Tankers has a consensus rating of “Hold” and a consensus target price of $89.57.

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.