Assenagon Asset Management S.A. Has $43.39 Million Holdings in Scorpio Tankers Inc. $STNG

Assenagon Asset Management S.A. boosted its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 136.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 853,712 shares of the shipping company’s stock after buying an additional 492,584 shares during the period. Assenagon Asset Management S.A. owned about 1.67% of Scorpio Tankers worth $43,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 valued at $996,000 after purchasing an additional 1,144 shares in the last quarter. Intech Investment Management LLC grew its stake in Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after buying an additional 2,802 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Scorpio Tankers by 61.0% during the second quarter. PNC Financial Services Group Inc. now owns 924 shares of the shipping company’s stock worth $36,000 after buying an additional 350 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Scorpio Tankers by 0.5% during the second quarter. Geode Capital Management LLC now owns 798,508 shares of the shipping company’s stock worth $31,246,000 after buying an additional 3,692 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Scorpio Tankers by 331.3% in the second quarter. Creative Planning now owns 38,555 shares of the shipping company’s stock valued at $1,509,000 after acquiring an additional 29,615 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

STNG has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $83.00 price target on shares of Scorpio Tankers in a research report on Friday, February 13th. Dnb Carnegie lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a report on Monday, March 9th. Evercore reiterated an “outperform” rating and set a $83.00 target price 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 research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and an average target price of $79.67.

Scorpio Tankers Stock Performance

STNG stock opened at $72.39 on Thursday. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $81.85. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. The firm has a market cap of $3.75 billion, a PE ratio of 10.24 and a beta of -0.31. The business’s 50-day moving average price is $68.55 and its two-hundred day moving average price is $61.01.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $238.93 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 23.8% on a year-over-year basis. As a group, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were given a dividend of $0.45 per share. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.5%. Scorpio Tankers’s payout ratio is presently 25.46%.

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.