Assenagon Asset Management S.A. increased its holdings in Scorpio Tankers Inc. (NYSE:STNG – Free Report) by 7.6% during the 1st quarter, Holdings Channel reports. The firm owned 918,223 shares of the shipping company’s stock after buying an additional 64,511 shares during the period. Assenagon Asset Management S.A.’s holdings in Scorpio Tankers were worth $68,555,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Scorpio Tankers by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after purchasing an additional 1,144 shares during the last quarter. Intech Investment Management LLC increased its stake 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 valued at $1,221,000 after buying an additional 2,802 shares during the period. Legal & General Group Plc increased its stake 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 valued at $391,000 after buying an additional 1,005 shares during the period. EverSource Wealth Advisors LLC raised its holdings 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 valued at $110,000 after acquiring an additional 2,402 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings 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 valued at $5,932,000 after acquiring an additional 4,618 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.
Scorpio Tankers Price Performance
STNG opened at $75.37 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98. Scorpio Tankers Inc. has a 52-week low of $38.83 and a 52-week high of $87.39. The stock has a market capitalization of $3.80 billion, a P/E ratio of 7.41 and a beta of -0.26. The company’s 50-day simple moving average is $79.04 and its two-hundred day simple moving average is $69.80.
Scorpio Tankers Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.45 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Scorpio Tankers’s dividend payout ratio is presently 17.70%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Jefferies Financial Group began coverage on Scorpio Tankers in a research report on Friday, April 24th. They issued a “buy” rating and a $90.00 price target on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Bank of America upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and raised their price target for the company from $76.00 to $100.00 in a report on Thursday, May 7th. Wall Street Zen upgraded shares of Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. 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. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.50.
Check Out Our Latest Research Report on Scorpio Tankers
About Scorpio Tankers
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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