28,044 Shares in Scorpio Tankers Inc. $STNG Bought by Marnell Management LLC

Marnell Management LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 28,044 shares of the shipping company’s stock, valued at approximately $1,425,000. Scorpio Tankers makes up approximately 0.7% of Marnell Management LLC’s portfolio, making the stock its 29th largest holding. Marnell Management LLC owned about 0.05% of Scorpio Tankers as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of STNG. Global Retirement Partners LLC raised its holdings in shares of Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after acquiring an additional 510 shares in the last quarter. Clearstead Advisors LLC raised its holdings 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 worth $28,000 after acquiring an additional 205 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth $29,000. Smartleaf Asset Management LLC raised its holdings in shares of Scorpio Tankers by 154.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock worth $33,000 after acquiring an additional 392 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of Scorpio Tankers during the third quarter worth $36,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

NYSE STNG opened at $79.02 on Monday. The firm has a market cap of $3.98 billion, a P/E ratio of 7.77 and a beta of -0.26. The stock’s 50-day moving average is $78.38 and its two-hundred day moving average is $68.38. Scorpio Tankers Inc. has a fifty-two week low of $38.83 and a fifty-two week high of $87.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87.

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

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.45 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Scorpio Tankers’s payout ratio is presently 17.70%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Bank of America upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $76.00 to $100.00 in a report on Thursday, May 7th. Evercore reiterated an “outperform” rating and set a $98.00 price objective on shares of Scorpio Tankers in a report on Wednesday, May 27th. Zacks Research upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. BTIG Research raised their target price on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, Jefferies Financial Group initiated coverage on Scorpio Tankers in a report on Friday, April 24th. They set a “buy” rating and a $90.00 target price on the stock. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.50.

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.