Victory Capital Management Inc. Acquires Shares of 265,378 Scorpio Tankers Inc. (NYSE:STNG)

Victory Capital Management Inc. acquired a new stake in Scorpio Tankers Inc. (NYSE:STNG – Get Rating) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 265,378 shares of the shipping company’s stock, valued at approximately $14,269,000. Victory Capital Management Inc. owned about 0.45% of Scorpio Tankers as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. National Bank of Canada FI acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth $29,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth $34,000. Financial Management Professionals Inc. acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth $34,000. Allspring Global Investments Holdings LLC acquired a new position in Scorpio Tankers in the third quarter valued at about $79,000. Finally, Captrust Financial Advisors grew its stake in Scorpio Tankers by 243.8% in the second quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 1,599 shares during the period. 54.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on STNG. JPMorgan Chase & Co. began coverage on Scorpio Tankers in a research note on Wednesday, March 8th. They issued an “overweight” rating and a $87.00 target price for the company. B. Riley boosted their target price on Scorpio Tankers from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 17th. StockNews.com began coverage on Scorpio Tankers in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Stifel Nicolaus boosted their target price on Scorpio Tankers from $68.00 to $77.00 in a research note on Tuesday, April 25th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $76.00 price target on shares of Scorpio Tankers in a report on Tuesday, March 21st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers has an average rating of “Moderate Buy” and an average target price of $74.17.

Scorpio Tankers Stock Performance

STNG opened at $48.48 on Wednesday. Scorpio Tankers Inc. has a 52-week low of $28.50 and a 52-week high of $64.20. The firm has a market capitalization of $2.89 billion, a PE ratio of 3.23, a PEG ratio of 0.14 and a beta of 0.38. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.68 and a current ratio of 1.70. The business’s 50-day simple moving average is $53.15 and its 200 day simple moving average is $53.46.

Scorpio Tankers (NYSE:STNG – Get Rating) last released its earnings results on Tuesday, May 2nd. The shipping company reported $3.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.39. Scorpio Tankers had a return on equity of 40.01% and a net margin of 51.60%. The business had revenue of $377.16 million for the quarter, compared to analyst estimates of $387.37 million. During the same quarter in the prior year, the company posted ($0.27) earnings per share. Scorpio Tankers’s revenue was up 119.3% on a year-over-year basis. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 10.42 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Monday, June 12th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.20. Scorpio Tankers’s payout ratio is 5.33%.

About Scorpio Tankers

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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.