Picton Mahoney Asset Management Increases Position in Scorpio Tankers Inc. $STNG

Picton Mahoney Asset Management lifted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 94,952.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,159 shares of the shipping company’s stock after acquiring an additional 16,142 shares during the quarter. Picton Mahoney Asset Management’s holdings in Scorpio Tankers were worth $905,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of STNG. Encompass Capital Advisors LLC bought a new position in Scorpio Tankers during the second quarter valued at about $30,890,000. AQR Capital Management LLC raised its position in Scorpio Tankers by 91.9% in the second 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 during the period. Donald Smith & CO. Inc. bought a new stake in Scorpio Tankers in the second quarter worth about $10,845,000. DNB Asset Management AS boosted its stake in Scorpio Tankers by 828.3% in the third quarter. DNB Asset Management AS now owns 306,299 shares of the shipping company’s stock valued at $17,171,000 after acquiring an additional 273,302 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of 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 acquiring an additional 153,475 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on STNG shares. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. BTIG Research increased their target price on shares of Scorpio Tankers from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Zacks Research upgraded shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Bank of America lowered shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday, January 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Stock Down 2.3%

Shares of NYSE:STNG opened at $76.88 on Friday. The firm has a fifty day moving average price of $64.13 and a two-hundred day moving average price of $59.04. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 10.87 and a beta of -0.31. 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 Inc. has a one year low of $30.63 and a one year high of $81.85.

Scorpio Tankers (NYSE:STNG) last released 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 net margin of 36.70% and a return on equity of 8.85%. The firm had revenue of $252.65 million for the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 23.8% on a year-over-year basis. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

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

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.