Scorpio Tankers Inc. $STNG Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 10.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,518 shares of the shipping company’s stock after selling 12,195 shares during the quarter. Principal Financial Group Inc.’s holdings in Scorpio Tankers were worth $7,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ticino Wealth purchased a new position in Scorpio Tankers during the 4th quarter valued at about $9,526,000. GSA Capital Partners LLP lifted its holdings in shares of Scorpio Tankers by 414.9% in the fourth quarter. GSA Capital Partners LLP now owns 63,171 shares of the shipping company’s stock valued at $3,211,000 after purchasing an additional 50,902 shares in the last quarter. Ruffer LLP purchased a new stake in shares of Scorpio Tankers in the fourth quarter valued at about $4,374,000. SBI Securities Co. Ltd. grew its position in shares of Scorpio Tankers by 1,708.7% in the fourth quarter. SBI Securities Co. Ltd. now owns 8,483 shares of the shipping company’s stock valued at $431,000 after purchasing an additional 8,014 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Scorpio Tankers during the 4th quarter worth approximately $368,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $79.34 on Monday. The company has a 50-day simple moving average of $77.18 and a 200-day simple moving average of $73.36. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. The company has a market cap of $4.00 billion, a PE ratio of 7.80 and a beta of -0.24. Scorpio Tankers Inc. has a 12 month low of $43.40 and a 12 month high of $87.39.

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

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.45 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.80 annualized dividend and a yield of 2.3%. Scorpio Tankers’s payout ratio is 17.70%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on STNG shares. Evercore restated an “outperform” rating and set a $94.00 price objective on shares of Scorpio Tankers in a research report on Wednesday. Zacks Research upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. BTIG Research raised their price target on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Morgan Stanley set a $82.00 price target on Scorpio Tankers and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.14.

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.