Scorpio Tankers Inc. $STNG Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. increased its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 7.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,249,834 shares of the shipping company’s stock after buying an additional 83,294 shares during the period. Victory Capital Management Inc.’s holdings in Scorpio Tankers were worth $70,053,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its holdings in shares of Scorpio Tankers by 7.6% during the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock valued at $107,265,000 after acquiring an additional 135,123 shares during the last quarter. Geode Capital Management LLC raised its stake in Scorpio Tankers by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 798,508 shares of the shipping company’s stock valued at $31,246,000 after purchasing an additional 3,692 shares during the last quarter. Encompass Capital Advisors LLC purchased a new position in Scorpio Tankers in the 2nd quarter valued at $30,890,000. AQR Capital Management LLC boosted its stake in Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after purchasing an additional 307,815 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Scorpio Tankers by 14.9% during the 2nd quarter. Bank of America Corp DE now owns 633,167 shares of the shipping company’s stock worth $24,776,000 after purchasing an additional 82,302 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Down 1.7%

Shares of NYSE:STNG opened at $78.79 on Friday. The business has a 50-day moving average price of $63.62 and a 200 day moving average price of $58.83. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 11.14 and a beta of -0.31. Scorpio Tankers Inc. has a 12-month low of $30.63 and a 12-month high of $81.85.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Scorpio Tankers’s revenue for the quarter was up 23.8% compared to the same quarter last year. Sell-side analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.45 dividend. This is a boost 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 payout ratio is 23.76%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on STNG shares. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $83.00 target price on shares of Scorpio Tankers in a report on Friday, February 13th. Evercore reaffirmed an “outperform” rating and issued a $83.00 price target on shares of Scorpio Tankers in a report on Friday, February 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus 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.