Tower Research Capital LLC TRC Boosts Stake in Scorpio Tankers Inc. (NYSE:STNG)

Tower Research Capital LLC TRC increased its holdings in Scorpio Tankers Inc. (NYSE:STNG – Get Rating) by 193.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,211 shares of the shipping company’s stock after purchasing an additional 3,438 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Scorpio Tankers were worth $219,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC boosted its position in Scorpio Tankers by 1,495.0% during the second quarter. FMR LLC now owns 1,865,679 shares of the shipping company’s stock worth $64,385,000 after acquiring an additional 1,748,708 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Scorpio Tankers during the second quarter worth about $18,539,000. Millennium Management LLC boosted its holdings in Scorpio Tankers by 810.7% in the 2nd quarter. Millennium Management LLC now owns 553,021 shares of the shipping company’s stock valued at $19,085,000 after purchasing an additional 492,296 shares during the last quarter. Packer & Co Ltd purchased a new stake in shares of Scorpio Tankers in the 3rd quarter valued at approximately $15,807,000. Finally, Renaissance Technologies LLC acquired a new position in Scorpio Tankers in the second quarter valued at approximately $10,067,000. Hedge funds and other institutional investors own 54.53% of the company’s stock.

Scorpio Tankers Stock Up 0.3 %

STNG stock opened at $59.10 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.42 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.45 billion, a P/E ratio of 5.78, a PEG ratio of 0.20 and a beta of 0.42. The company’s 50 day moving average is $53.79 and its two-hundred day moving average is $49.38. Scorpio Tankers Inc. has a twelve month low of $16.40 and a twelve month high of $64.20.

Scorpio Tankers (NYSE:STNG – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.38 by ($0.14). The company had revenue of $493.70 million for the quarter, compared to analyst estimates of $446.96 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 33.75%. Scorpio Tankers’s revenue was up 233.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.79) earnings per share. Research analysts expect that Scorpio Tankers Inc. will post 9.01 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Tuesday, March 7th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 6th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.10. Scorpio Tankers’s dividend payout ratio (DPR) is currently 3.91%.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of recent analyst reports. B. Riley upped their target price on shares of Scorpio Tankers from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 17th. StockNews.com upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, February 24th. BTIG Research raised their price target on Scorpio Tankers from $60.00 to $70.00 in a research report on Friday, December 9th. Deutsche Bank Aktiengesellschaft increased their target price on Scorpio Tankers from $52.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, January 12th. Finally, Jefferies Financial Group boosted their price target on shares of Scorpio Tankers from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, February 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $61.50.

About Scorpio Tankers

(Get Rating)

Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. Its consists of wholly owned, finance leased, and bareboat chartered-in tankers. It operates through the following segments: MR, LR2, Handymax, and LR1. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.