Scorpio Tankers Inc. $STNG Position Increased by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC grew its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 84.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,862 shares of the shipping company’s stock after purchasing an additional 55,360 shares during the period. Scorpio Tankers accounts for 1.3% of Moody Aldrich Partners LLC’s portfolio, making the stock its 13th biggest position. Moody Aldrich Partners LLC owned approximately 0.24% of Scorpio Tankers worth $6,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Encompass Capital Advisors LLC acquired a new stake in Scorpio Tankers during the second quarter worth about $30,890,000. AQR Capital Management LLC grew its holdings in shares of Scorpio Tankers by 91.9% during the second quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock valued at $25,148,000 after purchasing an additional 307,815 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Scorpio Tankers by 598.3% during the second quarter. Assenagon Asset Management S.A. now owns 357,120 shares of the shipping company’s stock valued at $13,974,000 after purchasing an additional 305,978 shares during the last quarter. Donald Smith & CO. Inc. acquired a new stake in shares of Scorpio Tankers during the 2nd quarter worth approximately $10,845,000. Finally, American Century Companies Inc. boosted its position in Scorpio Tankers by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock valued at $69,597,000 after purchasing an additional 153,475 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $50.78 on Thursday. The stock has a market cap of $2.59 billion, a P/E ratio of 8.59 and a beta of -0.30. The firm’s 50-day simple moving average is $57.33 and its 200 day simple moving average is $52.24. Scorpio Tankers Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $65.52. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.39 by $0.10. The firm had revenue of $232.92 million for the quarter, compared to analysts’ expectations of $228.09 million. Scorpio Tankers had a net margin of 32.01% and a return on equity of 7.42%. Scorpio Tankers’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.75 EPS. Equities analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.3%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, November 14th. Scorpio Tankers’s payout ratio is currently 28.43%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STNG. B. Riley reaffirmed a “buy” rating and issued a $80.00 target price (up from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. Evercore ISI set a $80.00 price objective on shares of Scorpio Tankers and gave the stock an “outperform” rating in a report on Monday, November 3rd. Jefferies Financial Group reissued a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.20.

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.