Connor Clark & Lunn Investment Management Ltd. Has $8.63 Million Stake in Scorpio Tankers Inc. (NYSE:STNG)

Connor Clark & Lunn Investment Management Ltd. increased its stake in Scorpio Tankers Inc. (NYSE:STNG – Get Rating) by 403.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 160,460 shares of the shipping company’s stock after purchasing an additional 128,570 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Scorpio Tankers were worth $8,628,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 10.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,109,243 shares of the shipping company’s stock worth $130,712,000 after purchasing an additional 305,881 shares during the last quarter. Moody Aldrich Partners LLC acquired a new stake in Scorpio Tankers in the 4th quarter worth approximately $3,856,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Scorpio Tankers by 1.3% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 122,852 shares of the shipping company’s stock worth $6,606,000 after purchasing an additional 1,561 shares during the last quarter. Strategic Income Management LLC acquired a new stake in Scorpio Tankers in the 4th quarter worth approximately $22,702,000. Finally, International Assets Investment Management LLC lifted its holdings in Scorpio Tankers by 591.2% in the 4th quarter. International Assets Investment Management LLC now owns 72,185 shares of the shipping company’s stock worth $3,881,000 after purchasing an additional 61,742 shares during the last quarter. 54.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STNG has been the subject of several analyst reports. Stifel Nicolaus boosted their target price on Scorpio Tankers from $68.00 to $77.00 in a report on Tuesday, April 25th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $76.00 price target on shares of Scorpio Tankers in a research report on Tuesday, March 21st. B. Riley lifted their price target on Scorpio Tankers from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. JPMorgan Chase & Co. assumed coverage on Scorpio Tankers in a research report on Wednesday, March 8th. They issued an “overweight” rating and a $87.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Scorpio Tankers from $65.00 to $55.00 in a research report on Wednesday, May 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.17.

Scorpio Tankers Stock Performance

STNG opened at $47.17 on Friday. The stock has a market cap of $2.81 billion, a PE ratio of 3.14, a P/E/G ratio of 0.14 and a beta of 0.38. The company has a current ratio of 1.70, a quick ratio of 1.68 and a debt-to-equity ratio of 0.32. Scorpio Tankers Inc. has a 1 year low of $28.50 and a 1 year high of $64.20. The stock’s 50 day simple moving average is $52.85 and its 200-day simple moving average is $53.38.

Scorpio Tankers (NYSE:STNG – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The shipping company reported $3.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.39. The business had revenue of $377.16 million for the quarter, compared to analysts’ expectations of $387.37 million. Scorpio Tankers had a return on equity of 40.01% and a net margin of 51.60%. Scorpio Tankers’s quarterly revenue was up 119.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.27) earnings per share. Sell-side analysts forecast that Scorpio Tankers Inc. will post 10.42 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, June 13th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 12th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. Scorpio Tankers’s payout ratio is currently 5.33%.

Scorpio Tankers Company Profile

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Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. Its consists of wholly owned, finance leased, and bareboat chartered-in tankers. It operates through the following segments: MR, LR2, Handymax, and LR1. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.