Scorpio Tankers Inc. (STNG) Stake Decreased by Peregrine Capital Management LLC

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Peregrine Capital Management LLC lowered its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 90.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 230,756 shares of the shipping company’s stock after selling 2,085,704 shares during the quarter. Peregrine Capital Management LLC’s holdings in Scorpio Tankers were worth $4,578,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its position in shares of Scorpio Tankers by 44.6% during the fourth quarter. Bank of New York Mellon Corp now owns 24,797,345 shares of the shipping company’s stock worth $43,644,000 after buying an additional 7,646,564 shares in the last quarter. BlackRock Inc. grew its position in shares of Scorpio Tankers by 53.8% during the fourth quarter. BlackRock Inc. now owns 22,545,814 shares of the shipping company’s stock worth $39,682,000 after buying an additional 7,886,648 shares in the last quarter. Investec Asset Management LTD grew its position in shares of Scorpio Tankers by 283.0% during the fourth quarter. Investec Asset Management LTD now owns 13,977,727 shares of the shipping company’s stock worth $24,601,000 after buying an additional 10,328,463 shares in the last quarter. Evermore Global Advisors LLC grew its position in shares of Scorpio Tankers by 34.5% during the fourth quarter. Evermore Global Advisors LLC now owns 13,597,623 shares of the shipping company’s stock worth $23,932,000 after buying an additional 3,490,102 shares in the last quarter. Finally, Hosking Partners LLP grew its position in shares of Scorpio Tankers by 22.8% during the fourth quarter. Hosking Partners LLP now owns 12,020,122 shares of the shipping company’s stock worth $21,155,000 after buying an additional 2,233,997 shares in the last quarter.

Shares of NYSE STNG opened at $24.27 on Tuesday. Scorpio Tankers Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $32.50. The company has a current ratio of 1.54, a quick ratio of 1.52 and a debt-to-equity ratio of 1.36. The stock has a market cap of $1.24 billion, a P/E ratio of -5.32 and a beta of 1.01.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, February 14th. The shipping company reported ($0.38) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.09. Scorpio Tankers had a negative net margin of 32.49% and a negative return on equity of 9.51%. The business had revenue of $167.53 million for the quarter, compared to analysts’ expectations of $154.31 million. During the same period in the previous year, the business earned ($0.14) earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. As a group, analysts predict that Scorpio Tankers Inc. will post -0.64 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 13th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 12th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -8.77%.

A number of equities analysts have commented on STNG shares. Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Saturday, January 26th. ValuEngine raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. JPMorgan Chase & Co. downgraded shares of Scorpio Tankers from an “overweight” rating to a “neutral” rating and set a $23.00 price objective for the company. in a report on Wednesday, January 23rd. Finally, B. Riley raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $25.00 in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Scorpio Tankers currently has an average rating of “Buy” and an average target price of $30.71.

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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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Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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