Encompass Capital Advisors LLC Sells 1,038,960 Shares of Scorpio Tankers Inc. $STNG

Encompass Capital Advisors LLC reduced its stake in Scorpio Tankers Inc. (NYSE:STNG) by 83.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the shipping company’s stock after selling 1,038,960 shares during the period. Encompass Capital Advisors LLC’s holdings in Scorpio Tankers were worth $10,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Scorpio Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after purchasing an additional 2,802 shares during the last quarter. Legal & General Group Plc boosted its position 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 worth $391,000 after purchasing an additional 1,005 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position 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 worth $110,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP lifted its holdings in Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock worth $5,932,000 after acquiring an additional 4,618 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen lowered Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Dnb Carnegie lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday. Jefferies Financial Group assumed coverage on Scorpio Tankers in a report on Friday, April 24th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Bank of America upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $100.00 in a report on Thursday, May 7th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Scorpio Tankers currently has an average rating of “Moderate Buy” and an average price target of $93.50.

Scorpio Tankers Stock Performance

STNG stock opened at $78.14 on Thursday. The business’s 50-day moving average price is $78.51 and its two-hundred day moving average price is $68.80. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The firm has a market cap of $3.94 billion, a PE ratio of 7.68 and a beta of -0.26. Scorpio Tankers Inc. has a 1-year low of $38.83 and a 1-year high of $87.39.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The firm had revenue of $312.86 million for the quarter, compared to analyst estimates of $286.81 million. During the same period in the previous year, the company posted $1.03 earnings per share. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. As a group, research analysts forecast that Scorpio Tankers Inc. will post 11.44 earnings per share for the current year.

Scorpio Tankers Announces Dividend

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

Scorpio Tankers 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.