GSA Capital Partners LLP Sells 63,110 Shares of Scorpio Tankers Inc. $STNG

GSA Capital Partners LLP lessened its stake in Scorpio Tankers Inc. (NYSE:STNG) by 83.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,269 shares of the shipping company’s stock after selling 63,110 shares during the quarter. GSA Capital Partners LLP’s holdings in Scorpio Tankers were worth $688,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of STNG. Encompass Capital Advisors LLC purchased a new stake in Scorpio Tankers in the second quarter worth $30,890,000. AQR Capital Management LLC grew its stake in shares of Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after acquiring an additional 307,815 shares during the period. Donald Smith & CO. Inc. purchased a new stake in Scorpio Tankers in the 2nd quarter worth about $10,845,000. American Century Companies Inc. increased its holdings in Scorpio Tankers by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock worth $69,597,000 after acquiring an additional 153,475 shares during the last quarter. Finally, Private Management Group Inc. raised its stake in Scorpio Tankers by 58.2% in the 2nd quarter. Private Management Group Inc. now owns 253,933 shares of the shipping company’s stock valued at $9,936,000 after acquiring an additional 93,416 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on STNG shares. Jefferies Financial Group reiterated a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a research report on Thursday, October 30th. Evercore reaffirmed an “outperform” rating and issued a $83.00 price objective 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 note on Monday, December 29th. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $71.65 on Friday. The firm’s 50 day simple moving average is $59.02 and its 200 day simple moving average is $56.95. 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 capitalization of $3.71 billion, a PE ratio of 10.13 and a beta of -0.25. Scorpio Tankers Inc. has a 1-year low of $30.63 and a 1-year high of $73.30.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.37 by $0.25. The firm 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 business’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share 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 paid a $0.45 dividend. The ex-dividend date is Friday, March 6th. This represents a $1.80 dividend on an annualized basis and a yield of 2.5%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s dividend payout ratio is currently 23.76%.

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.