Scorpio Tankers Inc. $STNG Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 3.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,185,215 shares of the shipping company’s stock after selling 37,800 shares during the period. Renaissance Technologies LLC owned about 2.35% of Scorpio Tankers worth $88,488,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STNG. Merewether Investment Management LP acquired a new stake in Scorpio Tankers in the third quarter valued at $38,471,000. Arrowstreet Capital Limited Partnership lifted its holdings in Scorpio Tankers by 68.3% during the 3rd 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 last quarter. AQR Capital Management LLC boosted its position in shares of Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after acquiring an additional 307,815 shares in the last quarter. Credit Agricole S A acquired a new position in shares of Scorpio Tankers during the 3rd quarter worth about $16,703,000. Finally, Ticino Wealth purchased a new position in shares of Scorpio Tankers in the 4th quarter valued at about $9,526,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 0.1%

Shares of Scorpio Tankers stock opened at $79.34 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98. The company has a market capitalization of $4.00 billion, a P/E ratio of 7.80 and a beta of -0.24. Scorpio Tankers Inc. has a 1 year low of $43.40 and a 1 year high of $87.39. The company’s fifty day moving average is $77.18 and its two-hundred day moving average is $73.19.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, beating 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 period in the prior year, the company earned $1.03 earnings per share. The business’s revenue was up 46.2% compared to the same quarter last year. Analysts forecast that Scorpio Tankers Inc. will post 12.15 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, May 29th. Scorpio Tankers’s payout ratio is 17.70%.

Analyst Ratings Changes

Several brokerages have recently weighed in on STNG. Jefferies Financial Group began coverage on Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 target price on the stock. Morgan Stanley set a $82.00 price target on Scorpio Tankers and gave the company an “equal weight” rating in a report on Thursday, July 9th. Bank of America lowered shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their price target for the company from $100.00 to $78.00 in a research note on Tuesday, June 30th. Evercore reissued an “outperform” rating and set a $94.00 price objective on shares of Scorpio Tankers in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $88.14.

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.