Pacer Advisors Inc. Sells 66,693 Shares of Scorpio Tankers Inc. $STNG

Pacer Advisors Inc. trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 21.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 251,231 shares of the shipping company’s stock after selling 66,693 shares during the period. Pacer Advisors Inc.’s holdings in Scorpio Tankers were worth $12,770,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in STNG. Virtu Financial LLC grew its stake in shares of Scorpio Tankers by 95.3% in the 4th quarter. Virtu Financial LLC now owns 11,540 shares of the shipping company’s stock worth $587,000 after buying an additional 5,630 shares during the last quarter. XTX Topco Ltd increased its position in Scorpio Tankers by 391.3% during the 4th quarter. XTX Topco Ltd now owns 37,100 shares of the shipping company’s stock valued at $1,886,000 after buying an additional 29,548 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Scorpio Tankers during the fourth quarter valued at $4,864,000. Twinbeech Capital LP purchased a new position in Scorpio Tankers during the fourth quarter valued at $351,000. Finally, Quadrature Capital Ltd bought a new stake in Scorpio Tankers in the fourth quarter worth $243,000. 54.64% of the stock is owned by institutional investors.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $80.26 on Friday. Scorpio Tankers Inc. has a twelve month low of $38.83 and a twelve month high of $87.39. The firm has a market cap of $4.05 billion, a P/E ratio of 7.89 and a beta of -0.26. The company has a 50 day moving average of $78.70 and a 200 day moving average of $69.04. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, beating the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business had revenue of $312.86 million for the quarter, compared to the consensus estimate of $286.81 million. During the same period last year, the business posted $1.03 EPS. The company’s revenue was up 46.2% compared to the same quarter last year. As a group, research analysts expect that Scorpio Tankers Inc. will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on STNG. Evercore reissued an “outperform” rating and issued a $98.00 target price on shares of Scorpio Tankers in a research note on Wednesday, May 27th. Zacks Research lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Dnb Carnegie cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Bank of America raised shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and increased their price objective for the company from $76.00 to $100.00 in a research report on Thursday, May 7th. Finally, Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 price objective on the stock. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.