DNB Asset Management AS Decreases Holdings in Scorpio Tankers Inc. $STNG

DNB Asset Management AS trimmed its position in Scorpio Tankers Inc. (NYSE:STNG) by 18.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 250,577 shares of the shipping company’s stock after selling 55,722 shares during the quarter. DNB Asset Management AS’s holdings in Scorpio Tankers were worth $12,737,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its stake 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 worth $165,064,000 after buying an additional 7,868 shares during the period. American Century Companies Inc. increased 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 worth $107,265,000 after buying an additional 135,123 shares during the period. Victory Capital Management Inc. increased 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 during the period. Assenagon Asset Management S.A. increased 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 worth $43,394,000 after buying an additional 492,584 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased 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 worth $45,179,000 after buying an additional 326,973 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Up 0.1%

Shares of Scorpio Tankers stock opened at $82.17 on Monday. 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 company’s fifty day simple moving average is $76.19 and its two-hundred day simple moving average is $66.15. The company has a market cap of $4.14 billion, a P/E ratio of 8.08 and a beta of -0.24. Scorpio Tankers Inc. has a 12-month low of $37.96 and a 12-month 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 business had revenue of $312.86 million for the quarter, compared to the consensus estimate of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The company’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.03 EPS. Research analysts anticipate 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 given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend is Friday, May 29th. Scorpio Tankers’s payout ratio is presently 17.70%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $100.00 in a research note on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 target price on the stock. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, BTIG Research lifted 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. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.17.

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.