Total Clarity Wealth Management Inc. Acquires Shares of 12,927 Scorpio Tankers Inc. $STNG

Total Clarity Wealth Management Inc. purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 12,927 shares of the shipping company’s stock, valued at approximately $965,000.

A number of other institutional investors have also recently bought and sold shares of STNG. Clearstead Advisors LLC raised its stake in shares of Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares during the period. Global Retirement Partners LLC raised its position in Scorpio Tankers by 1,645.2% in 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 during the period. Zions Bancorporation National Association UT purchased a new position in Scorpio Tankers in the fourth quarter valued at about $29,000. Quantbot Technologies LP bought a new position in shares of Scorpio Tankers during the 3rd quarter valued at approximately $36,000. Finally, Smartleaf Asset Management LLC increased its stake in shares of Scorpio Tankers by 154.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock worth $33,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Evercore reaffirmed an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a research report on Wednesday, May 27th. BTIG Research upped their price objective on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Thursday. Dnb Carnegie cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Wall Street Zen upgraded shares of Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $93.50.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $82.42 on Tuesday. The stock’s 50-day simple moving average is $78.82 and its two-hundred day simple moving average is $69.32. The firm has a market capitalization of $4.16 billion, a P/E ratio of 8.10 and a beta of -0.26. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. Scorpio Tankers Inc. has a twelve month low of $38.83 and a twelve month high of $87.39.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. During the same quarter in the previous year, the company earned $1.03 EPS. The business’s quarterly revenue was up 46.2% compared to the same quarter last year. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.45 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.2%. Scorpio Tankers’s payout ratio is presently 17.70%.

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.