Raymond James Financial Services Advisors Inc. Purchases New Position in Scorpio Tankers Inc. (NYSE:STNG)

Raymond James Financial Services Advisors Inc. acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG – Get Rating) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 31,911 shares of the shipping company’s stock, valued at approximately $1,716,000. Raymond James Financial Services Advisors Inc. owned about 0.05% of Scorpio Tankers as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in STNG. Dimensional Fund Advisors LP grew its stake in Scorpio Tankers by 10.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,109,243 shares of the shipping company’s stock worth $130,712,000 after buying an additional 305,881 shares during the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Scorpio Tankers during the fourth quarter worth approximately $3,856,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its holdings in shares of Scorpio Tankers by 1.3% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 122,852 shares of the shipping company’s stock valued at $6,606,000 after acquiring an additional 1,561 shares during the period. International Assets Investment Management LLC raised its position in Scorpio Tankers by 591.2% in the 4th quarter. International Assets Investment Management LLC now owns 72,185 shares of the shipping company’s stock valued at $3,881,000 after purchasing an additional 61,742 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its stake in Scorpio Tankers by 45.3% during the 3rd quarter. Quadrature Capital Ltd now owns 29,595 shares of the shipping company’s stock worth $1,245,000 after purchasing an additional 9,233 shares during the period. Institutional investors and hedge funds own 54.53% of the company’s stock.

Scorpio Tankers Stock Performance

NYSE STNG opened at $47.17 on Friday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 3.14, a PEG ratio of 0.14 and a beta of 0.38. The business’s 50 day moving average is $52.85 and its two-hundred day moving average is $53.38. Scorpio Tankers Inc. has a 12-month low of $28.50 and a 12-month high of $64.20. The company has a current ratio of 1.70, a quick ratio of 1.68 and a debt-to-equity ratio of 0.32.

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

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, June 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.12%. 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 dividend payout ratio (DPR) is currently 5.33%.

Analyst Ratings Changes

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

Scorpio Tankers Company Profile

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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.