Scorpio Tankers Inc. $STNG Shares Sold by UBS Group AG

UBS Group AG reduced its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 13.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,443 shares of the shipping company’s stock after selling 25,708 shares during the period. UBS Group AG’s holdings in Scorpio Tankers were worth $8,155,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after purchasing an additional 2,802 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Scorpio Tankers by 11.2% during the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock worth $391,000 after purchasing an additional 1,005 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Scorpio Tankers by 593.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock worth $110,000 after purchasing an additional 2,402 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock worth $5,932,000 after purchasing an additional 4,618 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STNG has been the topic of a number of recent research reports. BTIG Research boosted their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded shares of Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, Dnb Carnegie lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers presently has an average rating of “Moderate Buy” and a consensus target price of $93.17.

Scorpio Tankers Stock Performance

Shares of STNG opened at $82.17 on Monday. Scorpio Tankers Inc. has a 1 year low of $37.96 and a 1 year high of $87.39. The company has a market cap of $4.14 billion, a price-to-earnings ratio of 8.08 and a beta of -0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98. The firm has a fifty day moving average of $76.19 and a 200-day moving average of $66.15.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The company had revenue of $312.86 million during the quarter, compared to the consensus estimate of $286.81 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post 11.44 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.80 annualized dividend and a dividend yield of 2.2%. Scorpio Tankers’s payout ratio is 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.