Royal Bank of Canada Sells 7,129 Shares of Scorpio Tankers Inc. $STNG

Royal Bank of Canada lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 58.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,087 shares of the shipping company’s stock after selling 7,129 shares during the period. Royal Bank of Canada’s holdings in Scorpio Tankers were worth $380,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Merewether Investment Management LP bought a new stake in shares of Scorpio Tankers during the 3rd quarter valued at $38,471,000. Arrowstreet Capital Limited Partnership boosted its stake in Scorpio Tankers by 68.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after purchasing an additional 326,973 shares during the period. AQR Capital Management LLC grew its holdings in Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock valued at $25,148,000 after buying an additional 307,815 shares in the last quarter. Credit Agricole S A purchased a new position in Scorpio Tankers during the 3rd quarter valued at about $16,703,000. Finally, Renaissance Technologies LLC grew its holdings in Scorpio Tankers by 12.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock valued at $62,166,000 after buying an additional 137,000 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Price Performance

STNG stock opened at $74.87 on Thursday. The firm has a 50 day simple moving average of $77.01 and a two-hundred day simple moving average of $76.27. The stock has a market cap of $3.77 billion, a PE ratio of 4.68 and a beta of -0.22. Scorpio Tankers Inc. has a one year low of $48.79 and a one year high of $87.39. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share 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 firm had revenue of $408.73 million for the quarter, compared to analysts’ expectations of $398.25 million. During the same quarter last year, the company posted $1.41 EPS. The business’s quarterly revenue was up 77.5% on a year-over-year basis. On average, analysts predict that Scorpio Tankers Inc. will post 11.03 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

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

Wall Street Analyst Weigh In

STNG has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Bank of America lowered shares of 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 report on Tuesday, June 30th. BTIG Research increased their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and a consensus price target of $90.14.

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.