40,000 Shares in Scorpio Tankers Inc. $STNG Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Scorpio Tankers Inc. (NYSE:STNG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 40,000 shares of the shipping company’s stock, valued at approximately $2,242,000. KLP Kapitalforvaltning AS owned 0.08% of Scorpio Tankers at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of STNG. Spire Wealth Management lifted its holdings 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 buying an additional 330 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Scorpio Tankers by 143.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 460 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Scorpio Tankers by 206.1% in the 2nd quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 575 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Scorpio Tankers by 61.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock worth $36,000 after purchasing an additional 350 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Scorpio Tankers by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock worth $48,000 after purchasing an additional 245 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

NYSE STNG opened at $54.83 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 9.28 and a beta of -0.27. The business has a 50 day simple moving average of $56.16 and a 200 day simple moving average of $52.72. Scorpio Tankers Inc. has a 52-week low of $30.63 and a 52-week high of $65.52.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, October 30th. The shipping company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.10. Scorpio Tankers had a net margin of 32.01% and a return on equity of 7.42%. The company had revenue of $232.92 million during the quarter, compared to analysts’ expectations of $228.09 million. During the same quarter in the prior year, the company earned $1.75 earnings per share. The business’s quarterly revenue was down 9.9% compared to the same quarter last year. Analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were issued a dividend of $0.42 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, November 14th. This represents a $1.68 dividend on an annualized basis and a yield of 3.1%. Scorpio Tankers’s dividend payout ratio is currently 28.43%.

Analysts Set New Price Targets

Several equities analysts have weighed in on STNG shares. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the company an “outperform” rating in a research note on Monday, November 3rd. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. B. Riley reiterated a “buy” rating and issued a $80.00 target price (up from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.20.

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.