Cooper Creek Partners Management LLC Cuts Stock Position in Scorpio Tankers Inc. $STNG

Cooper Creek Partners Management LLC lessened its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 71.1% during the 1st quarter, Holdings Channel reports. The firm owned 204,064 shares of the shipping company’s stock after selling 502,669 shares during the period. Cooper Creek Partners Management LLC’s holdings in Scorpio Tankers were worth $15,235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in STNG. Ticino Wealth purchased a new stake in Scorpio Tankers during the 4th quarter worth approximately $9,526,000. GSA Capital Partners LLP boosted its position in Scorpio Tankers by 414.9% in the 4th quarter. GSA Capital Partners LLP now owns 63,171 shares of the shipping company’s stock valued at $3,211,000 after buying an additional 50,902 shares during the period. Ruffer LLP purchased a new position in Scorpio Tankers in the 4th quarter valued at approximately $4,374,000. SBI Securities Co. Ltd. grew its stake in shares of Scorpio Tankers by 1,708.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 8,483 shares of the shipping company’s stock worth $431,000 after acquiring an additional 8,014 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of Scorpio Tankers in the fourth quarter worth $368,000. 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 recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Jefferies Financial Group assumed coverage on Scorpio Tankers in a research report on Friday, April 24th. They issued a “buy” rating and a $90.00 price target on the stock. Evercore reiterated an “outperform” rating and issued a $94.00 price objective on shares of Scorpio Tankers in a research note on Wednesday. Finally, BTIG Research lifted their price objective on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $88.14.

Scorpio Tankers Trading Down 0.1%

Shares of NYSE:STNG opened at $79.34 on Friday. Scorpio Tankers Inc. has a 52 week low of $43.40 and a 52 week high of $87.39. The company’s 50 day moving average is $77.18 and its two-hundred day moving average is $73.19. The company has a market cap of $4.00 billion, a PE ratio of 7.80 and a beta of -0.24. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.23. The business had revenue of $312.86 million during 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%. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.03 EPS. Equities analysts predict that Scorpio Tankers Inc. will post 12.15 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 29th. Scorpio Tankers’s payout ratio is 17.70%.

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.