Dimensional Fund Advisors LP Buys 122,874 Shares of Scorpio Tankers Inc. $STNG

Dimensional Fund Advisors LP boosted its stake in Scorpio Tankers Inc. (NYSE:STNG) by 4.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 3,128,150 shares of the shipping company’s stock after buying an additional 122,874 shares during the period. Dimensional Fund Advisors LP owned 0.06% of Scorpio Tankers worth $233,544,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Scorpio Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after acquiring an additional 1,144 shares during the period. Intech Investment Management LLC lifted its holdings 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 acquiring an additional 2,802 shares during the period. Legal & General Group Plc boosted its stake in shares of Scorpio Tankers by 11.2% in the 2nd quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after purchasing an additional 1,005 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Scorpio Tankers by 593.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after purchasing an additional 2,402 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Scorpio Tankers by 3.1% in the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after purchasing an additional 4,618 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

STNG has been the subject of a number of recent analyst reports. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $100.00 to $78.00 in a research report on Tuesday, June 30th. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Evercore reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Scorpio Tankers in a research note on Wednesday. BTIG Research raised their price objective 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. Finally, Morgan Stanley set a $82.00 price objective on shares of Scorpio Tankers and gave the stock an “equal weight” rating in a report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $88.14.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $79.24 on Friday. The business’s fifty day moving average is $77.24 and its two-hundred day moving average is $73.15. 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 market cap of $4.00 billion, a P/E ratio of 7.79 and a beta of -0.24. Scorpio Tankers Inc. has a 52 week low of $43.40 and a 52 week high of $87.39.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. The business had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 earnings per share. Equities research analysts forecast that Scorpio Tankers Inc. will post 12.15 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.3%. The ex-dividend date was Friday, May 29th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 17.70%.

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.