MQS Management LLC Invests $477,000 in Scorpio Tankers Inc. $STNG

MQS Management LLC purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,376 shares of the shipping company’s stock, valued at approximately $477,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. raised its holdings in shares of Scorpio Tankers by 234.1% in the third quarter. Federated Hermes Inc. now owns 38,524 shares of the shipping company’s stock worth $2,159,000 after buying an additional 26,994 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Scorpio Tankers by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after buying an additional 7,868 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Scorpio Tankers by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after buying an additional 83,294 shares during the period. DNB Asset Management AS raised its holdings in shares of Scorpio Tankers by 828.3% in the third quarter. DNB Asset Management AS now owns 306,299 shares of the shipping company’s stock worth $17,171,000 after buying an additional 273,302 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Scorpio Tankers by 7.6% in the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after buying an additional 135,123 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STNG has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on Scorpio Tankers in a report on Friday, April 24th. They issued a “buy” rating and a $90.00 price target on the stock. Evercore set a $96.00 price target on Scorpio Tankers in a report on Tuesday, May 5th. Wall Street Zen upgraded Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Dnb Carnegie downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Finally, B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.17.

Scorpio Tankers Trading Down 0.5%

STNG opened at $80.24 on Friday. The stock’s fifty day moving average is $76.68 and its two-hundred day moving average is $66.79. The company has a market capitalization of $4.05 billion, a P/E ratio of 7.89 and a beta of -0.24. Scorpio Tankers Inc. has a 52 week low of $37.96 and a 52 week high of $87.39. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.79 by $0.23. The company had revenue of $312.86 million for the quarter, compared to the consensus estimate of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.Scorpio Tankers’s quarterly revenue was up 46.2% on a year-over-year basis. During the same period last year, the business posted $1.03 EPS. 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 disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date is Friday, May 29th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 17.70%.

Scorpio Tankers Company 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.