Nuveen Asset Management LLC purchased a new position in Scorpio Tankers Inc. (NYSE:STNG) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 457,219 shares of the shipping company’s stock, valued at approximately $13,497,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Advisor Group Inc. lifted its position in Scorpio Tankers by 496.1% in the second quarter. Advisor Group Inc. now owns 912 shares of the shipping company’s stock worth $27,000 after buying an additional 759 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in Scorpio Tankers in the second quarter worth $126,000. US Bancorp DE bought a new stake in Scorpio Tankers in the second quarter worth $46,000. Aperio Group LLC bought a new stake in Scorpio Tankers in the second quarter worth $103,000. Finally, Bank of Montreal Can lifted its position in Scorpio Tankers by 907.7% in the second quarter. Bank of Montreal Can now owns 4,041 shares of the shipping company’s stock worth $119,000 after buying an additional 3,640 shares during the last quarter. Institutional investors own 57.21% of the company’s stock.
NYSE:STNG opened at $34.33 on Friday. Scorpio Tankers Inc. has a twelve month low of $14.75 and a twelve month high of $35.17. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -7.53 and a beta of 1.04. The stock has a fifty day simple moving average of $29.02 and a 200-day simple moving average of $26.46. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 1.31.
Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, July 31st. The shipping company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.71) by $0.09. Scorpio Tankers had a negative return on equity of 5.50% and a negative net margin of 16.52%. The business had revenue of $150.80 million during the quarter, compared to the consensus estimate of $148.88 million. During the same period last year, the company earned ($0.15) earnings per share. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts predict that Scorpio Tankers Inc. will post -0.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $0.40 annualized dividend and a dividend yield of 1.17%. Scorpio Tankers’s dividend payout ratio (DPR) is -8.77%.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. BTIG Research set a $38.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Jefferies Financial Group set a $40.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research report on Friday, June 28th. Stifel Nicolaus lifted their target price on Scorpio Tankers from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, B. Riley set a $40.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $34.71.
Scorpio Tankers Company Profile
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.
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