Encompass Capital Advisors LLC Sells 1,038,960 Shares of Scorpio Tankers Inc. $STNG

Encompass Capital Advisors LLC decreased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 83.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,000 shares of the shipping company’s stock after selling 1,038,960 shares during the quarter. Encompass Capital Advisors LLC owned approximately 0.39% of Scorpio Tankers worth $10,166,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 valued at $996,000 after purchasing an additional 1,144 shares during the last quarter. Intech Investment Management LLC raised its position in Scorpio Tankers by 9.4% in the 1st 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 during the last quarter. Legal & General Group Plc raised its position in Scorpio Tankers by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,005 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Scorpio Tankers by 593.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Scorpio Tankers by 3.1% in the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after purchasing an additional 4,618 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $78.14 on Thursday. Scorpio Tankers Inc. has a 52-week low of $38.83 and a 52-week high of $87.39. The stock has a market cap of $3.94 billion, a PE ratio of 7.68 and a beta of -0.26. 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 firm’s 50 day moving average price is $78.51 and its two-hundred day moving average price is $68.80.

Scorpio Tankers (NYSE:STNG) last posted 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. 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 in the prior year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 46.2% on a year-over-year basis. As a group, analysts forecast that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, May 29th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 17.70%.

Analysts Set New Price Targets

STNG has been the topic of a number of recent research reports. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday. Evercore reiterated an “outperform” rating and issued a $98.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, May 27th. BTIG Research increased their price objective on Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Bank of America upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their price objective for the company from $76.00 to $100.00 in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 6th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $93.50.

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.