Assenagon Asset Management S.A. Acquires 64,511 Shares of Scorpio Tankers Inc. $STNG

Assenagon Asset Management S.A. raised its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 7.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 918,223 shares of the shipping company’s stock after purchasing an additional 64,511 shares during the quarter. Assenagon Asset Management S.A. owned 1.77% of Scorpio Tankers worth $68,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Scorpio Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares during the period. Intech Investment Management LLC raised its stake in shares of 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 buying an additional 2,802 shares during the period. Legal & General Group Plc lifted its position in shares of Scorpio Tankers by 11.2% during the 2nd quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after buying an additional 1,005 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Scorpio Tankers by 593.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after buying an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Scorpio Tankers by 3.1% during the 2nd quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock worth $5,932,000 after acquiring an additional 4,618 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $75.37 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98. Scorpio Tankers Inc. has a 52-week low of $38.83 and a 52-week high of $87.39. The company has a fifty day moving average of $79.04 and a 200-day moving average of $69.80. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 7.41 and a beta of -0.26.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business had revenue of $312.86 million during the quarter, compared to analyst estimates of $286.81 million. During the same period in the prior year, the business posted $1.03 earnings per share. The company’s revenue was up 46.2% on a year-over-year basis. Equities research analysts expect that Scorpio Tankers Inc. will post 11.44 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Friday, May 29th. Scorpio Tankers’s payout ratio is 17.70%.

Wall Street Analysts Forecast Growth

Several research firms have commented on STNG. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Bank of America upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $76.00 to $100.00 in a research note on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Evercore reaffirmed an “outperform” rating and set a $98.00 target price on shares of Scorpio Tankers in a report on Wednesday, May 27th. Finally, BTIG Research raised 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. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.50.

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.