Boothbay Fund Management LLC Has $2.57 Million Stake in Scorpio Tankers Inc. $STNG

Boothbay Fund Management LLC boosted its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 68.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 45,895 shares of the shipping company’s stock after purchasing an additional 18,607 shares during the period. Boothbay Fund Management LLC owned 0.09% of Scorpio Tankers worth $2,572,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in STNG. Marex Group plc acquired a new position in Scorpio Tankers during the second quarter valued at $901,000. Federated Hermes Inc. boosted its position in Scorpio Tankers by 234.1% during the 3rd quarter. Federated Hermes Inc. now owns 38,524 shares of the shipping company’s stock worth $2,159,000 after acquiring an additional 26,994 shares during the period. Dimensional Fund Advisors LP boosted its position in Scorpio Tankers by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after acquiring an additional 7,868 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Scorpio Tankers during the 3rd quarter valued at about $2,242,000. Finally, Moody Aldrich Partners LLC grew its stake in Scorpio Tankers by 84.5% during the 3rd quarter. Moody Aldrich Partners LLC now owns 120,862 shares of the shipping company’s stock valued at $6,774,000 after acquiring an additional 55,360 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STNG has been the subject of several research reports. Evercore restated an “outperform” rating and set a $83.00 price target on shares of Scorpio Tankers in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $83.00 target price on shares of Scorpio Tankers in a research note on Friday, February 13th. Bank of America restated an “underperform” rating on shares of Scorpio Tankers in a report on Monday, March 9th. Finally, Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Scorpio Tankers Price Performance

Shares of STNG opened at $68.46 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. The firm has a market cap of $3.54 billion, a PE ratio of 9.68 and a beta of -0.31. The firm’s 50 day moving average price is $66.61 and its 200 day moving average price is $60.15. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $81.85.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.37 by $0.25. The company had revenue of $252.65 million during 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 previous year, the firm posted $0.63 earnings per share. As a group, research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS 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. Shareholders 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 is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 2.6%. Scorpio Tankers’s dividend payout ratio (DPR) 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.