Assenagon Asset Management S.A. Has $43.39 Million Stock Holdings in Scorpio Tankers Inc. $STNG

Assenagon Asset Management S.A. boosted its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 136.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 853,712 shares of the shipping company’s stock after purchasing an additional 492,584 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Scorpio Tankers were worth $43,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SBI Securities Co. Ltd. grew its holdings in shares of Scorpio Tankers by 110.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares in the last quarter. Clearstead Advisors LLC raised its stake in Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 205 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Scorpio Tankers by 61.0% during the second 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 period. Quantbot Technologies LP bought a new stake in Scorpio Tankers during the third quarter worth about $36,000. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Scorpio Tankers during the third quarter worth about $41,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America reissued an “underperform” rating on shares of Scorpio Tankers in a report on Monday, March 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. B. Riley Financial restated a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. Finally, Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.67.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $72.39 on Thursday. The stock has a 50-day moving average price of $68.55 and a two-hundred day moving average price of $61.01. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $81.85. The company has a market capitalization of $3.75 billion, a PE ratio of 10.24 and a beta of -0.31. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19.

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

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, March 6th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s payout ratio is presently 25.46%.

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.