Boston Partners reduced its stake in Scorpio Tankers Inc. (NYSE:STNG) by 89.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,465 shares of the shipping company’s stock after selling 2,010,805 shares during the period. Boston Partners’ holdings in Scorpio Tankers were worth $4,592,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake in Scorpio Tankers by 1.9% in the third quarter. BlackRock Inc. now owns 14,659,166 shares of the shipping company’s stock worth $29,465,000 after buying an additional 278,847 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in Scorpio Tankers by 76.2% in the fourth quarter. Peregrine Capital Management LLC now owns 2,316,460 shares of the shipping company’s stock worth $4,077,000 after purchasing an additional 1,001,703 shares during the period. DNB Asset Management AS purchased a new stake in Scorpio Tankers in the fourth quarter worth about $760,000. Precocity Capital LP grew its holdings in Scorpio Tankers by 25.0% in the fourth quarter. Precocity Capital LP now owns 2,500,000 shares of the shipping company’s stock worth $4,400,000 after purchasing an additional 500,000 shares during the period. Finally, Investec Asset Management PTY Ltd purchased a new stake in Scorpio Tankers in the fourth quarter worth about $615,000.
Shares of STNG opened at $26.90 on Thursday. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -5.90 and a beta of 1.15. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.46 and a current ratio of 1.48. Scorpio Tankers Inc. has a fifty-two week low of $14.75 and a fifty-two week high of $32.50.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Tuesday, June 4th. Scorpio Tankers’s payout ratio is -8.77%.
A number of equities research analysts have weighed in on the stock. ValuEngine cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. Zacks Investment Research upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Thursday, April 18th. B. Riley upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $22.00 to $25.00 in a report on Monday, March 4th. Finally, JPMorgan Chase & Co. cut shares of Scorpio Tankers from an “overweight” rating to a “neutral” rating and set a $23.00 price objective on the stock. in a report on Wednesday, January 23rd. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of “Buy” and a consensus target price of $30.25.
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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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