Pacer Advisors Inc. Sells 66,693 Shares of Scorpio Tankers Inc. $STNG

Pacer Advisors Inc. lessened its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 21.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,231 shares of the shipping company’s stock after selling 66,693 shares during the period. Pacer Advisors Inc. owned about 0.49% of Scorpio Tankers worth $12,770,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Virtu Financial LLC grew its position in shares of Scorpio Tankers by 95.3% in the 4th quarter. Virtu Financial LLC now owns 11,540 shares of the shipping company’s stock worth $587,000 after buying an additional 5,630 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Scorpio Tankers by 391.3% during the fourth quarter. XTX Topco Ltd now owns 37,100 shares of the shipping company’s stock valued at $1,886,000 after buying an additional 29,548 shares during the period. Voloridge Investment Management LLC bought a new position in shares of Scorpio Tankers during the fourth quarter valued at approximately $4,864,000. Twinbeech Capital LP bought a new position in shares of Scorpio Tankers during the fourth quarter valued at approximately $351,000. Finally, Quadrature Capital Ltd purchased a new stake in Scorpio Tankers in the fourth quarter worth $243,000. Institutional investors own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STNG. BTIG Research lifted their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Bank of America upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and upped their price objective for the stock from $76.00 to $100.00 in a report on Thursday, May 7th. Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Jefferies Financial Group assumed coverage on shares of Scorpio Tankers in a research note on Friday, April 24th. They set a “buy” rating and a $90.00 target price on the stock. Finally, Evercore reiterated an “outperform” rating and set a $98.00 price target on shares of Scorpio Tankers in a research report on Wednesday, May 27th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.50.

Scorpio Tankers Trading Down 0.4%

NYSE STNG opened at $80.26 on Friday. The firm has a market capitalization of $4.05 billion, a PE ratio of 7.89 and a beta of -0.26. The stock’s 50 day moving average is $78.70 and its 200 day moving average is $69.04. Scorpio Tankers Inc. has a twelve month low of $38.83 and a twelve month 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 posted its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.23. The business had revenue of $312.86 million during 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%.The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.03 earnings per share. Research analysts forecast that Scorpio Tankers Inc. will post 11.44 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were given a $0.45 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Scorpio Tankers’s dividend payout ratio is currently 17.70%.

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.