Royce & Associates LP Sells 38,920 Shares of Scorpio Tankers Inc. $STNG

Royce & Associates LP lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,008 shares of the shipping company’s stock after selling 38,920 shares during the period. Royce & Associates LP owned 0.32% of Scorpio Tankers worth $9,081,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 acquiring an additional 1,144 shares in the last quarter. Intech Investment Management LLC raised its position in Scorpio Tankers by 9.4% in the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after purchasing an additional 2,802 shares during the last quarter. Spire Wealth Management raised its position in Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 330 shares during the last quarter. Savant Capital LLC boosted its stake in shares of Scorpio Tankers by 34.6% during the second quarter. Savant Capital LLC now owns 14,178 shares of the shipping company’s stock valued at $555,000 after purchasing an additional 3,641 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Scorpio Tankers during the second quarter worth about $534,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on STNG shares. Bank of America lowered shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Moffett Nathanson upgraded shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Evercore restated an “outperform” rating and issued a $83.00 price objective on shares of Scorpio Tankers in a report on Friday, February 13th. Finally, Zacks Research raised Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Trading Up 1.5%

NYSE:STNG opened at $79.47 on Wednesday. Scorpio Tankers Inc. has a 52 week low of $30.63 and a 52 week high of $81.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. The firm’s fifty day moving average is $62.48 and its 200-day moving average is $58.54. The firm has a market cap of $4.11 billion, a P/E ratio of 11.24 and a beta of -0.31.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The business had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. Scorpio Tankers’s quarterly revenue was up 23.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 earnings per share. Equities analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s dividend payout ratio (DPR) is presently 23.76%.

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.