Scorpio Tankers Inc. (NYSE:STNG) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Scorpio Tankers Inc. (NYSE:STNGGet Rating) by 403.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 160,460 shares of the shipping company’s stock after buying an additional 128,570 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.27% of Scorpio Tankers worth $8,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STNG. Advisor Group Holdings Inc. raised its stake in shares of Scorpio Tankers by 263.9% during the 1st quarter. Advisor Group Holdings Inc. now owns 13,495 shares of the shipping company’s stock worth $287,000 after buying an additional 9,787 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Scorpio Tankers by 7.0% during the 1st quarter. Rhumbline Advisers now owns 99,744 shares of the shipping company’s stock worth $2,133,000 after buying an additional 6,505 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Scorpio Tankers by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,578,947 shares of the shipping company’s stock worth $55,136,000 after buying an additional 57,184 shares during the last quarter. Sei Investments Co. raised its stake in shares of Scorpio Tankers by 15.8% during the 1st quarter. Sei Investments Co. now owns 155,472 shares of the shipping company’s stock worth $3,324,000 after buying an additional 21,160 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Scorpio Tankers by 3.6% during the 1st quarter. First Trust Advisors LP now owns 12,099 shares of the shipping company’s stock worth $259,000 after buying an additional 418 shares during the last quarter. Institutional investors and hedge funds own 54.53% of the company’s stock.

Scorpio Tankers Trading Down 0.5 %

NYSE STNG opened at $47.17 on Friday. Scorpio Tankers Inc. has a 12 month low of $28.50 and a 12 month high of $64.20. The company has a 50-day moving average of $52.85 and a 200-day moving average of $53.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.68. The company has a market cap of $2.81 billion, a P/E ratio of 3.14, a P/E/G ratio of 0.14 and a beta of 0.38.

Scorpio Tankers (NYSE:STNGGet Rating) last issued its earnings results on Tuesday, May 2nd. The shipping company reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.39. The business had revenue of $377.16 million during the quarter, compared to analysts’ expectations of $387.37 million. Scorpio Tankers had a return on equity of 40.01% and a net margin of 51.60%. The company’s revenue for the quarter was up 119.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS. As a group, equities analysts predict that Scorpio Tankers Inc. will post 10.42 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Tuesday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Monday, June 12th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.20. Scorpio Tankers’s dividend payout ratio is 5.33%.

Wall Street Analysts Forecast Growth

STNG has been the subject of several research reports. Deutsche Bank Aktiengesellschaft cut their price target on Scorpio Tankers from $65.00 to $55.00 in a research note on Wednesday, May 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $76.00 target price on shares of Scorpio Tankers in a research note on Tuesday, March 21st. B. Riley boosted their target price on shares of Scorpio Tankers from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 17th. JPMorgan Chase & Co. started coverage on shares of Scorpio Tankers in a research note on Wednesday, March 8th. They issued an “overweight” rating and a $87.00 target price for the company. Finally, Stifel Nicolaus boosted their target price on shares of Scorpio Tankers from $68.00 to $77.00 in a research note on Tuesday, April 25th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $74.17.

Scorpio Tankers Profile

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Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. Its consists of wholly owned, finance leased, and bareboat chartered-in tankers. It operates through the following segments: MR, LR2, Handymax, and LR1. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.

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Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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