Vanguard Group Inc. lowered its stake in Scorpio Tankers Inc. (NYSE:STNG – Free Report) by 26.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,558,491 shares of the shipping company’s stock after selling 572,442 shares during the quarter. Vanguard Group Inc. owned approximately 3.05% of Scorpio Tankers worth $79,218,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in STNG. Merewether Investment Management LP bought a new position in shares of Scorpio Tankers in the third quarter worth about $38,471,000. Assenagon Asset Management S.A. lifted its holdings in shares of Scorpio Tankers by 136.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after acquiring an additional 492,584 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings 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 acquiring an additional 326,973 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Scorpio Tankers by 91.9% in the second quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after acquiring an additional 307,815 shares during the last quarter. Finally, Credit Agricole S A bought a new position in shares of Scorpio Tankers in the third quarter worth about $16,703,000. Institutional investors own 54.64% of the company’s stock.
Scorpio Tankers Stock Performance
Scorpio Tankers stock opened at $82.15 on Thursday. The business has a 50 day moving average of $76.09 and a 200-day moving average of $65.84. Scorpio Tankers Inc. has a 1 year low of $37.96 and a 1 year high of $87.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. The company has a market capitalization of $4.14 billion, a P/E ratio of 8.08 and a beta of -0.24.
Scorpio Tankers Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a $0.45 dividend. 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 dividend payout ratio is currently 17.70%.
Wall Street Analysts Forecast Growth
STNG has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Scorpio Tankers in a report on Friday, April 24th. They issued a “buy” rating and a $90.00 target price for the company. BTIG Research increased their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Zacks Research raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 7th. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their target price for the stock from $76.00 to $100.00 in a report on Thursday, May 7th. Finally, Dnb Carnegie cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.17.
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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