Marshall Wace North America L.P. Makes New $2.97 Million Investment in Scorpio Tankers Inc. (NYSE:STNG)

Marshall Wace North America L.P. bought a new stake in Scorpio Tankers Inc. (NYSE:STNG) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 149,577 shares of the shipping company’s stock, valued at approximately $2,968,000. Marshall Wace North America L.P. owned 0.29% of Scorpio Tankers at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Precocity Capital LP boosted its position in shares of Scorpio Tankers by 25.0% in the 4th quarter. Precocity Capital LP now owns 2,500,000 shares of the shipping company’s stock worth $4,400,000 after buying an additional 500,000 shares in the last quarter. Investec Asset Management PTY Ltd acquired a new stake in Scorpio Tankers during the 4th quarter worth approximately $615,000. Investec Asset Management LTD grew its position in Scorpio Tankers by 283.0% in the fourth quarter. Investec Asset Management LTD now owns 13,977,727 shares of the shipping company’s stock valued at $24,601,000 after acquiring an additional 10,328,463 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in Scorpio Tankers in the fourth quarter valued at approximately $61,000. Finally, Legal & General Group Plc grew its position in Scorpio Tankers by 72.7% in the fourth quarter. Legal & General Group Plc now owns 191,896 shares of the shipping company’s stock valued at $338,000 after acquiring an additional 80,810 shares in the last quarter. 55.31% of the stock is currently owned by institutional investors.

Shares of NYSE:STNG traded down $0.43 during trading on Friday, hitting $29.51. 487,618 shares of the stock were exchanged, compared to its average volume of 551,813. The company has a fifty day moving average price of $27.22. The company has a quick ratio of 1.46, a current ratio of 1.48 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $1.54 billion, a P/E ratio of -6.47 and a beta of 1.09. Scorpio Tankers Inc. has a 1-year low of $14.75 and a 1-year high of $30.87.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, May 2nd. The shipping company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.18. The business had revenue of $195.83 million for the quarter, compared to analyst estimates of $186.60 million. Scorpio Tankers had a negative return on equity of 6.54% and a negative net margin of 23.03%. Scorpio Tankers’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.02) EPS. As a group, analysts forecast that Scorpio Tankers Inc. will post -0.04 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 5th were issued a $0.10 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.40 annualized dividend and a dividend yield of 1.36%. Scorpio Tankers’s dividend payout ratio (DPR) is currently -8.77%.

STNG has been the subject of several research analyst reports. ValuEngine upgraded VESTAS WIND SYS/ADR from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Zacks Investment Research cut Uniti Group from a “buy” rating to a “hold” rating in a research note on Saturday. BTIG Research reiterated a “hold” rating on shares of Genworth Financial in a research note on Tuesday, July 2nd. Jefferies Financial Group restated a “buy” rating and set a GBX 99 ($1.29) price objective on shares of in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $33.67.

About Scorpio Tankers

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.

Featured Story: Blue-Chip Stocks

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

Receive News & Ratings for Scorpio Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers and related companies with MarketBeat.com's FREE daily email newsletter.