UBS Group AG Lowers Stake in Scorpio Tankers Inc. $STNG

UBS Group AG cut its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 160,443 shares of the shipping company’s stock after selling 25,708 shares during the quarter. UBS Group AG owned approximately 0.31% of Scorpio Tankers worth $8,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ruffer LLP acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $4,374,000. Ticino Wealth acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $9,526,000. Merit Financial Group LLC boosted its position in shares of Scorpio Tankers by 4.3% in the fourth quarter. Merit Financial Group LLC now owns 8,547 shares of the shipping company’s stock worth $434,000 after acquiring an additional 351 shares during the last quarter. Unison Advisors LLC acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $664,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Scorpio Tankers in the fourth quarter worth approximately $368,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Up 0.1%

Shares of STNG stock opened at $82.17 on Monday. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 8.08 and a beta of -0.24. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. Scorpio Tankers Inc. has a fifty-two week low of $37.96 and a fifty-two week high of $87.39. The firm’s 50 day moving average price is $76.19 and its two-hundred day moving average price is $66.15.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. Scorpio Tankers’s revenue was up 46.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. On average, analysts anticipate that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, May 29th. Scorpio Tankers’s payout ratio is presently 17.70%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Zacks Research raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group assumed coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They issued a “buy” rating and a $90.00 target price on the stock. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Wall Street Zen raised shares of Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 target price on shares of Scorpio Tankers in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

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.