DNB Asset Management AS Buys 273,302 Shares of Scorpio Tankers Inc. $STNG

DNB Asset Management AS lifted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 828.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 306,299 shares of the shipping company’s stock after buying an additional 273,302 shares during the quarter. DNB Asset Management AS owned approximately 0.60% of Scorpio Tankers worth $17,171,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Scorpio Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after purchasing an additional 2,802 shares in the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Scorpio Tankers in the second quarter worth about $227,000. Spire Wealth Management lifted its position in shares of Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after buying an additional 330 shares in the last quarter. Finally, Moody Aldrich Partners LLC boosted its stake in Scorpio Tankers by 61.7% during the second quarter. Moody Aldrich Partners LLC now owns 65,502 shares of the shipping company’s stock valued at $2,563,000 after buying an additional 25,000 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. BTIG Research raised their target price on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research report on Friday, February 13th. Zacks Research upgraded shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Scorpio Tankers currently has an average rating of “Moderate Buy” and an average price target of $79.67.

Scorpio Tankers Stock Up 2.5%

Shares of NYSE:STNG opened at $78.91 on Friday. The firm has a market capitalization of $4.08 billion, a PE ratio of 11.16 and a beta of -0.25. The business has a 50 day simple moving average of $61.37 and a two-hundred day simple moving average of $57.88. Scorpio Tankers Inc. has a 1 year low of $30.63 and a 1 year high of $79.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The firm had revenue of $252.65 million for the quarter, compared to the consensus estimate of $238.93 million. During the same period in the prior year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 6th. Scorpio Tankers’s dividend payout ratio is 23.76%.

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.