Royce & Associates LP lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 21.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 575,822 shares of the shipping company’s stock after selling 155,300 shares during the period. Royce & Associates LP owned 1.12% of Scorpio Tankers worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of STNG. Raymond James Financial Services Advisors Inc. increased its position in shares of Scorpio Tankers by 35.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 4,138 shares during the period. Prudential Financial Inc. increased its position in shares of Scorpio Tankers by 53.1% in the 4th quarter. Prudential Financial Inc. now owns 29,072 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 10,080 shares during the period. Tdam USA Inc. increased its position in shares of Scorpio Tankers by 20.2% in the 4th quarter. Tdam USA Inc. now owns 134,149 shares of the shipping company’s stock valued at $236,000 after acquiring an additional 22,500 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at $540,000. Finally, ICM Asset Management Inc. WA acquired a new position in shares of Scorpio Tankers in the 4th quarter valued at $532,000.
Several equities research analysts have weighed in on STNG shares. ValuEngine raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. B. Riley set a $20.00 price target on Scorpio Tankers and gave the stock a “hold” rating in a research report on Thursday, December 13th. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, January 26th. Finally, JPMorgan Chase & Co. downgraded Scorpio Tankers from an “overweight” rating to a “neutral” rating and set a $23.00 price target on the stock. in a research report on Wednesday, January 23rd. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $30.71.
Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, February 14th. The shipping company reported ($0.38) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.09. The business had revenue of $167.53 million during the quarter, compared to the consensus estimate of $154.31 million. Scorpio Tankers had a negative net margin of 32.49% and a negative return on equity of 9.51%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) earnings per share. On average, sell-side analysts expect that Scorpio Tankers Inc. will post -0.61 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Wednesday, February 13th will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 12th. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. Scorpio Tankers’s dividend payout ratio (DPR) is currently -8.77%.
About Scorpio Tankers
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.
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