Envestnet Asset Management Inc. Boosts Holdings in Scorpio Tankers Inc. (NYSE:STNG)

Envestnet Asset Management Inc. increased its holdings in Scorpio Tankers Inc. (NYSE:STNG – Get Rating) by 14.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,252 shares of the shipping company’s stock after purchasing an additional 3,110 shares during the period. Envestnet Asset Management Inc.’s holdings in Scorpio Tankers were worth $1,304,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in STNG. National Bank of Canada FI bought a new stake in Scorpio Tankers in the fourth quarter worth $29,000. MinichMacGregor Wealth Management LLC bought a new position in Scorpio Tankers during the 4th quarter worth approximately $34,000. Financial Management Professionals Inc. purchased a new position in Scorpio Tankers in the 4th quarter worth approximately $34,000. Captrust Financial Advisors lifted its position in Scorpio Tankers by 243.8% in the second quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 1,599 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Scorpio Tankers during the third quarter valued at approximately $79,000. Hedge funds and other institutional investors own 54.53% of the company’s stock.

Analyst Ratings Changes

STNG has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Scorpio Tankers in a research note on Wednesday, March 8th. They issued an “overweight” rating and a $87.00 target price on the stock. StockNews.com assumed coverage on shares of Scorpio Tankers in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Scorpio Tankers from $65.00 to $55.00 in a report on Wednesday, May 3rd. Stifel Nicolaus boosted their price target on Scorpio Tankers from $68.00 to $77.00 in a report on Tuesday, April 25th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $76.00 price target on shares of Scorpio Tankers in a research report on Tuesday, March 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $74.17.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $48.48 on Wednesday. Scorpio Tankers Inc. has a 1 year low of $28.50 and a 1 year high of $64.20. The stock has a market capitalization of $2.89 billion, a P/E ratio of 3.23, a P/E/G ratio of 0.14 and a beta of 0.38. The company’s 50-day moving average is $53.15 and its 200 day moving average is $53.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.68.

Scorpio Tankers (NYSE:STNG – Get Rating) last posted its earnings results on Tuesday, May 2nd. The shipping company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $2.92 by $0.39. Scorpio Tankers had a return on equity of 40.01% and a net margin of 51.60%. The firm had revenue of $377.16 million for the quarter, compared to the consensus estimate of $387.37 million. During the same quarter in the prior year, the business earned ($0.27) EPS. The business’s revenue for the quarter was up 119.3% on a year-over-year basis. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 10.42 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Tuesday, June 13th will be issued a $0.25 dividend. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 12th. This represents a $1.00 dividend on an annualized basis and a yield of 2.06%. Scorpio Tankers’s dividend payout ratio is 5.33%.

Scorpio Tankers Profile

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Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. Its consists of wholly owned, finance leased, and bareboat chartered-in tankers. It operates through the following segments: MR, LR2, Handymax, and LR1. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.