Citigroup Inc. Sells 20,611 Shares of Scorpio Tankers Inc. $STNG

Citigroup Inc. lowered its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 25.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,783 shares of the shipping company’s stock after selling 20,611 shares during the quarter. Citigroup Inc. owned 0.12% of Scorpio Tankers worth $3,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 buying an additional 1,144 shares during the last quarter. Intech Investment Management LLC grew 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 worth $1,221,000 after acquiring an additional 2,802 shares during the period. Spire Wealth Management raised its holdings in shares of Scorpio Tankers by 77.1% during the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 330 shares during the last quarter. Savant Capital LLC lifted its position in Scorpio Tankers by 34.6% during the second quarter. Savant Capital LLC now owns 14,178 shares of the shipping company’s stock valued at $555,000 after purchasing an additional 3,641 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Scorpio Tankers in the second quarter worth approximately $534,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STNG has been the subject of a number of research reports. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. BTIG Research upped their price target on Scorpio Tankers from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Zacks Research raised Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $83.00 price objective on shares of Scorpio Tankers in a research report on Friday, February 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $79.67.

Scorpio Tankers Trading Down 1.7%

STNG stock opened at $78.79 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $81.85. The business has a 50 day simple moving average of $63.62 and a two-hundred day simple moving average of $58.83. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 11.14 and a beta of -0.31.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The firm had revenue of $252.65 million for the quarter, compared to analysts’ expectations of $238.93 million. During the same quarter last year, the business posted $0.63 earnings per share. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. Research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a dividend of $0.45 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Scorpio Tankers’s payout ratio is currently 23.76%.

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.