DNB Asset Management AS Grows Stock Holdings in Scorpio Tankers Inc. $STNG

DNB Asset Management AS grew its stake in Scorpio Tankers Inc. (NYSE:STNG) by 828.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,299 shares of the shipping company’s stock after acquiring an additional 273,302 shares during the period. DNB Asset Management AS’s holdings in Scorpio Tankers were worth $17,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. boosted its holdings in shares of Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 246 shares during the period. Clearstead Advisors LLC raised its position in Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after buying an additional 330 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of Scorpio Tankers by 143.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock worth $31,000 after buying an additional 460 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in shares of Scorpio Tankers by 61.0% during the second quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock valued at $36,000 after buying an additional 350 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 2.5%

Shares of Scorpio Tankers stock opened at $78.91 on Friday. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $79.52. The firm’s 50 day moving average price is $61.37 and its 200-day moving average price is $57.88. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19. The company has a market cap of $4.08 billion, a P/E ratio of 11.16 and a beta of -0.25.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The company had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. During the same period last year, the firm earned $0.63 earnings per share. Scorpio Tankers’s revenue was up 23.8% compared to the same quarter last year. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a dividend of $0.45 per share. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, March 6th. This represents a $1.80 annualized dividend and a yield of 2.3%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 23.76%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STNG. Evercore reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of Scorpio Tankers in a research note on Friday, February 13th. BTIG Research upped their price target on shares of Scorpio Tankers from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.67.

Scorpio Tankers 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.