7,236 Shares in Scorpio Tankers Inc. $STNG Acquired by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Scorpio Tankers Inc. (NYSE:STNG) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,236 shares of the shipping company’s stock, valued at approximately $368,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Scorpio Tankers by 9.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 16,597 shares of the shipping company’s stock worth $825,000 after buying an additional 1,465 shares in the last quarter. TrueMark Investments LLC bought a new position in Scorpio Tankers in the 4th quarter worth approximately $555,000. Assenagon Asset Management S.A. grew its holdings in Scorpio Tankers by 136.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after buying an additional 492,584 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Scorpio Tankers by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,466 shares of the shipping company’s stock worth $1,317,000 after buying an additional 798 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new position in Scorpio Tankers in the 3rd quarter worth approximately $95,000. 54.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on STNG. BTIG Research increased their price objective on Scorpio Tankers from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 price objective on shares of Scorpio Tankers in a report on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Dnb Carnegie lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Finally, Evercore reissued an “outperform” rating and issued a $83.00 price objective 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 issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.50.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $76.47 on Tuesday. Scorpio Tankers Inc. has a one year low of $31.62 and a one year high of $81.85. The stock has a fifty day moving average of $71.24 and a 200-day moving average of $61.93. The company has a market capitalization of $3.96 billion, a PE ratio of 10.82 and a beta of -0.32. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Friday, February 13th. The shipping company reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The company had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. During the same quarter in the prior year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, equities 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 was paid on Friday, March 20th. Stockholders of record on Friday, March 6th were given 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 was Friday, March 6th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.4%. Scorpio Tankers’s payout ratio is currently 25.46%.

Scorpio Tankers 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.