9,618 Scorpio Tankers Inc. $STNG Shares Sold by Hosking Partners LLP

Hosking Partners LLP trimmed its position in Scorpio Tankers Inc. (NYSE:STNG) by 7.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 125,195 shares of the shipping company’s stock after selling 9,618 shares during the period. Hosking Partners LLP’s holdings in Scorpio Tankers were worth $10,479,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STNG. Dimensional Fund Advisors LP boosted its position in Scorpio Tankers by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock valued at $233,544,000 after buying an additional 122,874 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Scorpio Tankers by 7.6% in the first quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock valued at $68,555,000 after acquiring an additional 64,511 shares during the period. Bank of America Corp DE increased its position in shares of Scorpio Tankers by 9.3% in the first quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock valued at $18,244,000 after acquiring an additional 20,878 shares during the period. Empowered Funds LLC increased its position in shares of Scorpio Tankers by 20.9% in the first quarter. Empowered Funds LLC now owns 240,545 shares of the shipping company’s stock valued at $17,959,000 after acquiring an additional 41,516 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Scorpio Tankers by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 132,975 shares of the shipping company’s stock valued at $9,928,000 after acquiring an additional 11,829 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, September 14th. Morgan Stanley raised their target price on Scorpio Tankers from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 target price on shares of Scorpio Tankers in a research note on Tuesday, August 4th. Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research report on Tuesday, September 8th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $92.14.

Insider Buying and Selling

In other news, insider Auste Adelborg sold 6,834 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $89.64, for a total value of $612,599.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Robert Bugbee sold 231,799 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $86.19, for a total value of $19,978,755.81. Following the completion of the sale, the president owned 665,288 shares in the company, valued at $57,341,172.72. The trade was a 25.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 420,133 shares of company stock valued at $36,611,311. 7.34% of the stock is owned by company insiders.

Scorpio Tankers Trading Up 2.8%

NYSE:STNG opened at $83.08 on Thursday. Scorpio Tankers Inc. has a one year low of $48.93 and a one year high of $90.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89. The company’s 50-day simple moving average is $82.51 and its 200 day simple moving average is $79.37. The firm has a market capitalization of $4.19 billion, a P/E ratio of 7.47 and a beta of -0.17.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The business had revenue of $408.73 million for the quarter, compared to analysts’ expectations of $398.25 million. During the same quarter in the prior year, the company earned $1.41 earnings per share. The business’s revenue was up 77.5% compared to the same quarter last year. As a group, analysts forecast that Scorpio Tankers Inc. will post 11.28 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. Scorpio Tankers’s payout ratio is currently 11.24%.

Scorpio Tankers Profile

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as petrochemical feedstocks and other liquid products.

Its fleet has historically included medium-range, handymax and long-range product tankers, allowing Scorpio Tankers to serve both regional and long-haul trade routes. The company’s vessels transport cargoes between major refining, storage and consumption centers across international markets, supporting energy companies, commodity traders and other commercial customers.

Scorpio Tankers was established in 2009 and is incorporated in the Marshall Islands, with corporate operations based in Monaco.