GSA Capital Partners LLP Sells 63,110 Shares of Scorpio Tankers Inc. $STNG

GSA Capital Partners LLP cut its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 83.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 12,269 shares of the shipping company’s stock after selling 63,110 shares during the period. GSA Capital Partners LLP’s holdings in Scorpio Tankers were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STNG. SBI Securities Co. Ltd. raised its position in shares of Scorpio Tankers by 110.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after buying an additional 246 shares in the last quarter. Spire Wealth Management increased its stake in Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 330 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Scorpio Tankers by 143.8% in the second quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 460 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Scorpio Tankers by 61.0% during the second quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock valued at $36,000 after purchasing an additional 350 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Scorpio Tankers by 30.8% during the third quarter. GAMMA Investing LLC now owns 1,117 shares of the shipping company’s stock worth $63,000 after purchasing an additional 263 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on STNG shares. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday, January 9th. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a research note on Thursday, October 30th. Moffett Nathanson upgraded shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $83.00 target price on shares of Scorpio Tankers in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Stock Performance

NYSE:STNG opened at $71.65 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $73.30. The firm has a market cap of $3.71 billion, a PE ratio of 10.13 and a beta of -0.25. The business has a 50 day moving average price of $59.02 and a 200-day moving average price of $56.95.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.37 by $0.25. The company had revenue of $252.65 million for the quarter, compared to the consensus estimate of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.45 per share. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, March 6th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 23.76%.

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.