Scorpio Tankers Inc. $STNG Shares Purchased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. boosted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 1,708.7% in the 4th quarter, Holdings Channel reports. The firm owned 8,483 shares of the shipping company’s stock after buying an additional 8,014 shares during the quarter. SBI Securities Co. Ltd.’s holdings in Scorpio Tankers were worth $431,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in Scorpio Tankers by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock valued at $165,064,000 after purchasing an additional 7,868 shares in the last quarter. American Century Companies Inc. increased its stake in Scorpio Tankers by 7.6% during the 3rd quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after buying an additional 135,123 shares during the period. Victory Capital Management Inc. increased its stake in Scorpio Tankers by 7.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after buying an additional 83,294 shares during the period. Assenagon Asset Management S.A. increased its stake in Scorpio Tankers by 136.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after buying an additional 492,584 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in Scorpio Tankers by 68.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after buying an additional 326,973 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Scorpio Tankers

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Bank of America upgraded Scorpio Tankers to Buy and raised its price target to $100, citing expectations that tanker rates will remain elevated. Read More
• Positive Sentiment: BTIG increased its price target on Scorpio Tankers to $100, reinforcing a more bullish Wall Street outlook. Read More
• Positive Sentiment: Zacks said Scorpio Tankers is showing strong momentum characteristics and could continue higher as earnings estimates have been revised upward. Article Title
• Positive Sentiment: The stock was also added to Zacks’ Rank #1 Strong Buy momentum and income stock lists, which may attract additional investor interest. Article Title
• Neutral Sentiment: Scorpio Tankers announced a reopening of its 1.75% convertible notes due 2031, increasing the offering to $200 million from $150 million, while also planning to repurchase about 649,427 shares. The buyback could help offset dilution, but the new notes add leverage and potential future share issuance. Article Title

Analysts Set New Price Targets

Several equities research analysts recently issued reports on STNG shares. Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They set a “buy” rating and a $90.00 price target on the stock. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. BTIG Research lifted their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Finally, Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.17.

Scorpio Tankers Price Performance

STNG opened at $84.36 on Friday. The company has a 50-day moving average of $75.54 and a 200-day moving average of $65.12. The company has a market capitalization of $4.25 billion, a P/E ratio of 8.29 and a beta of -0.24. Scorpio Tankers Inc. has a 1-year low of $37.96 and a 1-year high of $87.39. The company has a debt-to-equity ratio of 0.16, a quick ratio of 9.23 and a current ratio of 13.98.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, May 5th. The shipping company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.23. The company 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 company’s revenue was up 46.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.03 EPS. Equities analysts expect that Scorpio Tankers Inc. will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Scorpio Tankers’s payout ratio is presently 17.70%.

About Scorpio Tankers

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.