Engineers Gate Manager LP Sells 25,152 Shares of Scorpio Tankers Inc. $STNG

Engineers Gate Manager LP lessened its stake in Scorpio Tankers Inc. (NYSE:STNG) by 27.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 67,942 shares of the shipping company’s stock after selling 25,152 shares during the quarter. Engineers Gate Manager LP’s holdings in Scorpio Tankers were worth $4,706,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STNG. Allworth Financial LP boosted its position in shares of Scorpio Tankers by 4.9% during the 2nd quarter. Allworth Financial LP now owns 12,097 shares of the shipping company’s stock valued at $838,000 after acquiring an additional 568 shares during the last quarter. Corient Private Wealth LP purchased a new stake in shares of Scorpio Tankers in the second quarter worth approximately $318,000. California State Teachers Retirement System increased its stake in Scorpio Tankers by 1,693.1% in the second quarter. California State Teachers Retirement System now owns 43,842 shares of the shipping company’s stock worth $3,036,000 after purchasing an additional 41,397 shares during the period. HB Wealth Management LLC purchased a new position in Scorpio Tankers in the 2nd quarter worth about $237,000. Finally, Navellier & Associates Inc. raised its stake in shares of Scorpio Tankers by 141.7% during the second quarter. Navellier & Associates Inc. now owns 38,960 shares of the shipping company’s stock valued at $2,698,000 after acquiring an additional 22,839 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

STNG has been the topic of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a $100.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Evercore restated an “outperform” rating and set a $94.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Finally, Morgan Stanley set a $86.00 target price on Scorpio Tankers in a research report on Tuesday, August 18th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $90.14.

Scorpio Tankers Stock Performance

STNG opened at $84.37 on Friday. The firm has a fifty day moving average price of $78.38 and a 200 day moving average price of $77.18. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89. Scorpio Tankers Inc. has a 1 year low of $48.93 and a 1 year high of $87.39. The stock has a market cap of $4.25 billion, a P/E ratio of 5.27 and a beta of -0.22.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, July 30th. The shipping company reported $4.68 EPS for the quarter, beating analysts’ consensus estimates of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The firm had revenue of $408.73 million for the quarter, compared to analysts’ expectations of $398.25 million. During the same period last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 77.5% on a year-over-year basis. Equities research analysts anticipate that Scorpio Tankers Inc. will post 11.21 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.45 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.80 annualized dividend and a dividend yield of 2.1%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.24%.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.