Intech Investment Management LLC Has $811,000 Stake in Scorpio Tankers Inc. $STNG

Intech Investment Management LLC lowered its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 39.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,474 shares of the shipping company’s stock after selling 9,386 shares during the period. Intech Investment Management LLC’s holdings in Scorpio Tankers were worth $811,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STNG. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research note on Friday, February 13th. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Bank of America reissued an “underperform” rating on shares of Scorpio Tankers in a research report on Monday. Finally, Evercore restated an “outperform” rating and set a $83.00 price target on shares of Scorpio Tankers in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Scorpio Tankers Stock Down 0.8%

STNG stock opened at $76.20 on Tuesday. The stock’s 50 day simple moving average is $64.62 and its 200 day simple moving average is $59.42. The company has a market cap of $3.94 billion, a P/E ratio of 10.78 and a beta of -0.31. 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 Inc. has a fifty-two week low of $30.63 and a fifty-two week high of $81.85.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping 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 the consensus estimate of $238.93 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. On average, research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s payout ratio is 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.