Royce & Associates LP Sells 81,900 Shares of Scorpio Tankers Inc. $STNG

Royce & Associates LP trimmed its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 50.6% in the 4th quarter, Holdings Channel reports. The fund owned 80,108 shares of the shipping company’s stock after selling 81,900 shares during the quarter. Royce & Associates LP’s holdings in Scorpio Tankers were worth $4,072,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STNG. Zacks Research upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group began coverage on Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 target price for the company. BTIG Research upped 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. B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, Evercore restated an “outperform” rating and issued a $98.00 target price on shares of Scorpio Tankers in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.50.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $74.49 on Friday. The business has a fifty day simple moving average of $77.68 and a 200 day simple moving average of $67.33. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $3.76 billion, a price-to-earnings ratio of 7.32 and a beta of -0.24. Scorpio Tankers Inc. has a one year low of $37.96 and a one year high of $87.39.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. The company had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business’s revenue was up 46.2% on a year-over-year basis. During the same period last year, the business earned $1.03 earnings per share. Sell-side analysts expect that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 17.70%.

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.