Scorpio Tankers Inc. $STNG Stake Lessened by Private Management Group Inc.

Private Management Group Inc. cut its stake in Scorpio Tankers Inc. (NYSE:STNG) by 14.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 178,034 shares of the shipping company’s stock after selling 29,236 shares during the period. Private Management Group Inc.’s holdings in Scorpio Tankers were worth $14,901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of STNG. Farther Finance Advisors LLC boosted its position in Scorpio Tankers by 35.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 579 shares of the shipping company’s stock valued at $48,000 after acquiring an additional 150 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Scorpio Tankers by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,427 shares of the shipping company’s stock worth $119,000 after acquiring an additional 184 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Scorpio Tankers by 13.8% in the 1st quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company’s stock worth $159,000 after acquiring an additional 257 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in shares of Scorpio Tankers by 9.5% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,014 shares of the shipping company’s stock valued at $266,000 after purchasing an additional 261 shares during the period. Finally, Krilogy Financial LLC lifted its stake in shares of Scorpio Tankers by 7.8% in the 3rd quarter. Krilogy Financial LLC now owns 3,857 shares of the shipping company’s stock valued at $337,000 after purchasing an additional 278 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on STNG. Zacks Research upgraded Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Evercore set a $105.00 price objective on Scorpio Tankers in a report on Monday, November 2nd. B. Riley Financial reissued a “buy” rating and set a $130.00 price objective (up from $120.00) on shares of Scorpio Tankers in a research report on Thursday, October 29th. Jefferies Financial Group restated a “buy” rating and set a $100.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 4th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $110.00 target price on shares of Scorpio Tankers in a research report on Wednesday, October 28th. One investment 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 issued a Sell rating to the company. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus price target of $109.56.

Insider Buying and Selling at Scorpio Tankers

In other Scorpio Tankers news, President Robert Bugbee sold 231,799 shares of Scorpio Tankers stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $86.19, for a total value of $19,978,755.81. Following the completion of the transaction, the president directly owned 665,288 shares of the company’s stock, valued at approximately $57,341,172.72. The trade was a 25.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Cameron Mackey sold 125,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $89.03, for a total transaction of $11,128,750.00. Following the completion of the transaction, the chief operating officer owned 739,531 shares in the company, valued at approximately $65,840,444.93. This represents a 14.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 654,770 shares of company stock worth $58,404,395 in the last 90 days. Insiders own 7.34% of the company’s stock.

Scorpio Tankers Trading Down 1.3%

NYSE STNG opened at $79.70 on Tuesday. Scorpio Tankers Inc. has a 12 month low of $48.93 and a 12 month high of $95.60. The company has a current ratio of 20.65, a quick ratio of 20.59 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $84.41 and its 200-day moving average price is $77.54. The stock has a market cap of $4.02 billion, a P/E ratio of 7.20, a P/E/G ratio of 1.74 and a beta of -0.10.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, October 28th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.43. The firm had revenue of $266.47 million during the quarter, compared to analyst estimates of $243.98 million. Scorpio Tankers had a return on equity of 17.06% and a net margin of 77.07%. Scorpio Tankers’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 EPS. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 15.59 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, November 13th. This represents a $3.00 dividend on an annualized basis and a yield of 3.8%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.45. Scorpio Tankers’s dividend payout ratio (DPR) is 9.53%.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company focused on moving refined petroleum products around the world. Its product tankers carry cargoes such as gasoline, diesel, jet fuel and naphtha between refineries, storage facilities and end markets.

The company serves international shipping routes, connecting major refining and consumption regions. Its fleet includes medium-range and larger product tankers designed to transport petroleum products across regional and long-distance routes.

Scorpio Tankers was founded in 2009 and is headquartered in Monaco.