Neo Ivy Capital Management Takes $423,000 Position in Scorpio Tankers Inc. $STNG

Neo Ivy Capital Management purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,538 shares of the shipping company’s stock, valued at approximately $423,000.

Other hedge funds also recently bought and sold shares of the company. Orion Porfolio Solutions LLC purchased a new stake in Scorpio Tankers during the 3rd quarter valued at about $216,000. Dimensional Fund Advisors LP raised its holdings in 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 worth $165,064,000 after buying an additional 7,868 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in Scorpio Tankers by 94,952.9% in the third quarter. Picton Mahoney Asset Management now owns 16,159 shares of the shipping company’s stock worth $905,000 after buying an additional 16,142 shares during the last quarter. First Eagle Investment Management LLC lifted its stake in shares of Scorpio Tankers by 2.0% in the third quarter. First Eagle Investment Management LLC now owns 214,068 shares of the shipping company’s stock worth $11,999,000 after buying an additional 4,100 shares in the last quarter. Finally, Victory Capital Management Inc. lifted 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 worth $70,053,000 after buying an additional 83,294 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on STNG. BTIG Research raised their price target on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $83.00 price objective on shares of Scorpio Tankers in a research report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. Finally, B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $76.88 on Monday. The firm’s 50-day moving average price is $64.13 and its 200-day moving average price is $59.22. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $81.85. The company has a market cap of $3.98 billion, a PE ratio of 10.87 and a beta of -0.31. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19.

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

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $0.45 dividend. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Scorpio Tankers’s payout ratio is presently 25.46%.

Scorpio Tankers Company 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.