Integrated Advisors Network LLC Purchases New Stake in Scorpio Tankers Inc. $STNG

Integrated Advisors Network LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 33,845 shares of the shipping company’s stock, valued at approximately $2,527,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Root Financial Partners LLC increased its holdings in shares of Scorpio Tankers by 193.9% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock valued at $39,000 after purchasing an additional 347 shares during the period. Global Retirement Partners LLC boosted its holdings in shares of Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after purchasing an additional 510 shares during the period. Zions Bancorporation National Association UT purchased a new position in Scorpio Tankers during the fourth quarter valued at approximately $29,000. Quantbot Technologies LP purchased a new position in Scorpio Tankers during the third quarter valued at approximately $36,000. Finally, Smartleaf Asset Management LLC increased its stake in Scorpio Tankers by 154.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock valued at $33,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

STNG has been the subject of a number of research reports. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $100.00 to $78.00 in a research note on Tuesday, June 30th. Dnb Carnegie lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Evercore reissued an “outperform” rating and set a $98.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, May 27th. Finally, BTIG Research boosted their price target on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Scorpio Tankers presently has a consensus rating of “Hold” and an average price target of $89.83.

Scorpio Tankers Stock Up 0.9%

Shares of STNG stock opened at $74.30 on Wednesday. The stock’s 50 day simple moving average is $78.42 and its 200 day simple moving average is $70.86. Scorpio Tankers Inc. has a twelve month low of $41.50 and a twelve month 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 company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 7.31 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $286.81 million. During the same quarter last year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. As a group, research analysts predict that Scorpio Tankers Inc. will post 13.6 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, May 29th. Scorpio Tankers’s dividend payout ratio (DPR) is 17.70%.

About Scorpio Tankers

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.