MQS Management LLC Takes $477,000 Position in Scorpio Tankers Inc. $STNG

MQS Management LLC purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, Holdings Channel.com reports. The firm purchased 9,376 shares of the shipping company’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in shares of Scorpio Tankers by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock valued at $165,064,000 after acquiring an additional 7,868 shares during the period. American Century Companies Inc. increased its holdings in shares of Scorpio Tankers by 7.6% in the 3rd quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock valued at $107,265,000 after acquiring an additional 135,123 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Scorpio Tankers by 7.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock valued at $70,053,000 after acquiring an additional 83,294 shares during the period. Assenagon Asset Management S.A. lifted its position in Scorpio Tankers by 136.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock valued at $43,394,000 after acquiring an additional 492,584 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Scorpio Tankers by 68.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock valued at $45,179,000 after acquiring an additional 326,973 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

Shares of STNG opened at $80.24 on Friday. The stock has a 50-day moving average of $76.68 and a two-hundred day moving average of $66.79. Scorpio Tankers Inc. has a one year low of $37.96 and a one year high of $87.39. 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 stock has a market cap of $4.05 billion, a P/E ratio of 7.89 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last issued 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 return on equity of 11.72% and a net margin of 48.44%.The company 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 firm posted $1.03 EPS. The firm’s revenue was up 46.2% compared to the same quarter last year. As a group, research analysts predict that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is 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 currently 17.70%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their target price for the company from $76.00 to $100.00 in a research report on Thursday, May 7th. Evercore set a $96.00 target price on shares of Scorpio Tankers in a research report on Tuesday, May 5th. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Dnb Carnegie downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, BTIG Research boosted their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Moderate Buy” and a consensus 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.