Navellier & Associates Inc. Boosts Stock Position in Scorpio Tankers Inc. $STNG

Navellier & Associates Inc. grew its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 141.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 38,960 shares of the shipping company’s stock after acquiring an additional 22,839 shares during the period. Navellier & Associates Inc.’s holdings in Scorpio Tankers were worth $2,698,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assetmark Inc. purchased a new stake in Scorpio Tankers in the first quarter worth approximately $28,000. Root Financial Partners LLC grew its position in Scorpio Tankers by 193.9% during the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 347 shares during the last quarter. Global Retirement Partners LLC grew its position in Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 510 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Scorpio Tankers during the fourth quarter worth approximately $29,000. Finally, Quantbot Technologies LP purchased a new position in shares of Scorpio Tankers during the third quarter worth approximately $36,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STNG has been the subject of a number of research reports. Evercore reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Morgan Stanley set a $86.00 target price on shares of Scorpio Tankers in a research report on Tuesday, August 18th. Wall Street Zen cut Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 14th. Finally, Bank of America downgraded Scorpio Tankers from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $100.00 to $78.00 in a report on Tuesday, June 30th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $90.14.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $78.22 on Friday. The company has a market capitalization of $3.94 billion, a P/E ratio of 4.89 and a beta of -0.22. Scorpio Tankers Inc. has a fifty-two week low of $48.93 and a fifty-two week high of $87.39. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.89 and a current ratio of 6.93. The stock has a 50 day moving average price of $76.92 and a two-hundred day moving average price of $76.35.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The firm had revenue of $408.73 million for the quarter, compared to analysts’ expectations of $398.25 million. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue was up 77.5% on a year-over-year basis. Analysts expect that Scorpio Tankers Inc. will post 11.06 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.80 annualized dividend and a yield of 2.3%. Scorpio Tankers’s dividend payout ratio is presently 11.24%.

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.