Pacer Advisors Inc. lowered its position in Scorpio Tankers Inc. (NYSE:STNG – Free Report) by 21.1% during the 1st quarter, HoldingsChannel reports. The firm owned 198,145 shares of the shipping company’s stock after selling 53,086 shares during the period. Pacer Advisors Inc.’s holdings in Scorpio Tankers were worth $14,794,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its holdings in shares of Scorpio Tankers by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock valued at $233,544,000 after acquiring an additional 122,874 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Scorpio Tankers by 12.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock worth $62,166,000 after purchasing an additional 137,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Scorpio Tankers by 7.6% during the first quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock worth $68,555,000 after purchasing an additional 64,511 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Scorpio Tankers by 68.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after purchasing an additional 326,973 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Scorpio Tankers by 8.8% in the third quarter. AQR Capital Management LLC now owns 699,040 shares of the shipping company’s stock worth $39,181,000 after purchasing an additional 56,367 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.
Scorpio Tankers Stock Down 1.6%
STNG opened at $76.49 on Wednesday. The company has a current ratio of 6.93, a quick ratio of 13.87 and a debt-to-equity ratio of 0.14. Scorpio Tankers Inc. has a 12 month low of $43.78 and a 12 month high of $87.39. The business’s 50-day moving average price is $76.75 and its 200-day moving average price is $74.42. The company has a market cap of $3.86 billion, a P/E ratio of 4.78 and a beta of -0.22.
Scorpio Tankers Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, August 17th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.24%.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 target price on shares of Scorpio Tankers in a research report on Tuesday. Morgan Stanley set a $82.00 price target on shares of Scorpio Tankers and gave the stock an “equal weight” rating in a report on Thursday, July 9th. BTIG Research raised their price objective on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $100.00 to $78.00 in a report on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $89.57.
Get Our Latest Analysis on STNG
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.
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