Hsbc Holdings PLC Grows Position in Scorpio Tankers Inc. $STNG

Hsbc Holdings PLC raised its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 97.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,740 shares of the shipping company’s stock after purchasing an additional 14,641 shares during the period. Hsbc Holdings PLC’s holdings in Scorpio Tankers were worth $2,229,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of STNG. Root Financial Partners LLC boosted its holdings in Scorpio Tankers by 193.9% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock worth $39,000 after buying an additional 347 shares during the period. Global Retirement Partners LLC raised its holdings in Scorpio Tankers by 1,645.2% during the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 510 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth $29,000. Quantbot Technologies LP bought a new position in shares of Scorpio Tankers in the third quarter worth $36,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Scorpio Tankers by 154.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock worth $33,000 after acquiring an additional 392 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Scorpio Tankers stock opened at $79.34 on Friday. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of 7.80 and a beta of -0.24. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $77.18 and a 200 day simple moving average of $73.19. Scorpio Tankers Inc. has a 52 week low of $43.40 and a 52 week high of $87.39.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.23. The firm had revenue of $312.86 million for the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The company’s revenue was up 46.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.03 EPS. On average, research analysts forecast that Scorpio Tankers Inc. will post 12.15 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was Friday, May 29th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 17.70%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Morgan Stanley set a $82.00 price objective on Scorpio Tankers and gave the company an “equal weight” rating in a research note on Thursday, July 9th. BTIG Research raised their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Evercore reaffirmed an “outperform” rating and set a $94.00 target price on shares of Scorpio Tankers in a report on Wednesday. Wall Street Zen cut Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. Finally, Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They issued a “buy” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $88.14.

About Scorpio Tankers

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.