Corigliano Investment Advisers LLC Cuts Stake in Scorpio Tankers Inc. $STNG

Corigliano Investment Advisers LLC decreased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 66.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,400 shares of the shipping company’s stock after selling 129,500 shares during the period. Scorpio Tankers makes up about 1.2% of Corigliano Investment Advisers LLC’s holdings, making the stock its 24th biggest holding. Corigliano Investment Advisers LLC’s holdings in Scorpio Tankers were worth $3,375,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Balyasny Asset Management L.P. boosted its stake in shares of Scorpio Tankers by 65.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 250,298 shares of the shipping company’s stock valued at $12,723,000 after purchasing an additional 98,676 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Scorpio Tankers by 14.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 244,322 shares of the shipping company’s stock valued at $12,419,000 after buying an additional 31,534 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in Scorpio Tankers during the 4th quarter valued at $1,933,000. Trexquant Investment LP bought a new stake in Scorpio Tankers during the 4th quarter valued at $6,187,000. Finally, Jump Financial LLC bought a new stake in Scorpio Tankers during the 4th quarter valued at $6,331,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BTIG Research upped their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Dnb Carnegie lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Evercore restated an “outperform” rating and issued a $98.00 price objective on shares of Scorpio Tankers in a report on Wednesday, May 27th. Bank of America upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $100.00 in a report on Thursday, May 7th. Finally, Jefferies Financial Group assumed coverage on shares of Scorpio Tankers in a report on Friday, April 24th. They issued a “buy” rating and a $90.00 price objective for the company. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

Scorpio Tankers Stock Down 0.5%

NYSE:STNG opened at $78.14 on Thursday. The firm’s 50-day moving average price is $78.51 and its 200-day moving average price is $68.80. The company has a market capitalization 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 current ratio of 13.98 and a quick ratio of 13.87. Scorpio Tankers Inc. has a 1-year low of $38.83 and a 1-year high of $87.39.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to the consensus estimate 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 was up 46.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.03 EPS. On average, equities analysts predict that Scorpio Tankers Inc. will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

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