Picton Mahoney Asset Management Raises Stock Holdings in Scorpio Tankers Inc. $STNG

Picton Mahoney Asset Management increased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 94,952.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,159 shares of the shipping company’s stock after purchasing an additional 16,142 shares during the period. Picton Mahoney Asset Management’s holdings in Scorpio Tankers were worth $905,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of STNG. Encompass Capital Advisors LLC bought a new stake in Scorpio Tankers during the second quarter valued at approximately $30,890,000. AQR Capital Management LLC increased its holdings in shares of Scorpio Tankers by 91.9% in the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after buying an additional 307,815 shares during the last quarter. Donald Smith & CO. Inc. purchased a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $10,845,000. DNB Asset Management AS lifted its holdings in shares of Scorpio Tankers by 828.3% during the 3rd quarter. DNB Asset Management AS now owns 306,299 shares of the shipping company’s stock worth $17,171,000 after acquiring an additional 273,302 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Scorpio Tankers by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock worth $69,597,000 after acquiring an additional 153,475 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $76.88 on Friday. The business has a 50 day moving average of $64.13 and a 200 day moving average of $59.04. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $81.85. The company has a market cap of $3.98 billion, a PE ratio of 10.87 and a beta of -0.31. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19.

Scorpio Tankers (NYSE:STNG) last released its quarterly 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. The business had revenue of $252.65 million for the quarter, compared to analysts’ expectations of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, equities research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 6th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. Scorpio Tankers’s payout ratio is currently 23.76%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on STNG shares. B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. BTIG Research raised their price objective on Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Finally, Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average 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.