Total Clarity Wealth Management Inc. Purchases Shares of 12,927 Scorpio Tankers Inc. $STNG

Total Clarity Wealth Management Inc. purchased a new stake in Scorpio Tankers Inc. (NYSE:STNG) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 12,927 shares of the shipping company’s stock, valued at approximately $965,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Advisory Services LLC raised its holdings in Scorpio Tankers by 3.1% during the 4th quarter. Kestra Advisory Services LLC now owns 5,286 shares of the shipping company’s stock worth $269,000 after purchasing an additional 158 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Scorpio Tankers by 15.8% during the third quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company’s stock worth $79,000 after buying an additional 194 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after buying an additional 205 shares during the period. Allworth Financial LP boosted its position in Scorpio Tankers by 2.4% during the fourth quarter. Allworth Financial LP now owns 11,257 shares of the shipping company’s stock valued at $572,000 after acquiring an additional 261 shares during the last quarter. Finally, Merit Financial Group LLC grew its holdings in Scorpio Tankers by 4.3% during the 4th quarter. Merit Financial Group LLC now owns 8,547 shares of the shipping company’s stock worth $434,000 after acquiring an additional 351 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Scorpio Tankers Stock Performance

STNG opened at $82.42 on Tuesday. Scorpio Tankers Inc. has a 1-year low of $38.83 and a 1-year high of $87.39. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 8.10 and a beta of -0.26. The company’s fifty day moving average price is $78.82 and its two-hundred day moving average price is $69.32. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The company had revenue of $312.86 million during the quarter, compared to the consensus estimate of $286.81 million. During the same period in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. On average, analysts expect that Scorpio Tankers Inc. will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.45 per share. The ex-dividend date was Friday, May 29th. This represents a $1.80 annualized dividend and a yield of 2.2%. Scorpio Tankers’s dividend payout ratio is 17.70%.

Wall Street Analysts Forecast Growth

STNG has been the topic of several research analyst reports. Wall Street Zen upgraded Scorpio Tankers from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $100.00 in a research report on Thursday, May 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday. Dnb Carnegie downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.50.

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.