Bleakley Financial Group LLC Purchases New Position in Scorpio Tankers Inc. $STNG

Bleakley Financial Group LLC acquired a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,425 shares of the shipping company’s stock, valued at approximately $640,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Encompass Capital Advisors LLC bought a new stake in shares of Scorpio Tankers in the 2nd quarter valued at approximately $30,890,000. AQR Capital Management LLC raised its holdings in Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock valued at $25,148,000 after buying an additional 307,815 shares during the period. Donald Smith & CO. Inc. bought a new stake in Scorpio Tankers in the second quarter worth $10,845,000. American Century Companies Inc. boosted its stake in Scorpio Tankers by 9.4% during the second quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock worth $69,597,000 after buying an additional 153,475 shares during the period. Finally, Private Management Group Inc. boosted its stake in Scorpio Tankers by 58.2% during the second quarter. Private Management Group Inc. now owns 253,933 shares of the shipping company’s stock worth $9,936,000 after buying an additional 93,416 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Trading Up 0.5%

STNG stock opened at $73.71 on Thursday. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $73.83. The firm’s 50-day moving average is $60.30 and its 200 day moving average is $57.50. The company has a market capitalization of $3.82 billion, a PE ratio of 10.43 and a beta of -0.25. 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 (NYSE:STNG) last issued its earnings results on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The business had revenue of $252.65 million for the quarter, compared to the consensus estimate of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The company’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. On average, research analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.4%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 6th. Scorpio Tankers’s payout ratio is currently 23.76%.

Analysts Set New Price Targets

STNG has been the topic of several recent analyst reports. Zacks Research raised shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 30th. BTIG Research boosted their target price on Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $83.00 target price on shares of Scorpio Tankers in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

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.