Monarch Alternative Capital LP Sells 8,566,539 Shares of Scorpio Tankers Inc. (NYSE:STNG)

Monarch Alternative Capital LP trimmed its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 91.6% during the 1st quarter, HoldingsChannel reports. The firm owned 785,169 shares of the shipping company’s stock after selling 8,566,539 shares during the quarter. Scorpio Tankers makes up 0.6% of Monarch Alternative Capital LP’s investment portfolio, making the stock its 3rd largest position. Monarch Alternative Capital LP’s holdings in Scorpio Tankers were worth $15,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in shares of Scorpio Tankers by 35.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock worth $28,000 after purchasing an additional 4,138 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Scorpio Tankers by 53.1% during the 4th quarter. Prudential Financial Inc. now owns 29,072 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 10,080 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Scorpio Tankers during the 4th quarter worth about $61,000. Amalgamated Bank lifted its holdings in Scorpio Tankers by 36.4% during the 4th quarter. Amalgamated Bank now owns 54,036 shares of the shipping company’s stock worth $95,000 after buying an additional 14,407 shares during the period. Finally, Quantamental Technologies LLC acquired a new position in Scorpio Tankers during the 1st quarter worth about $96,000. 55.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE STNG opened at $25.40 on Monday. Scorpio Tankers Inc. has a twelve month low of $14.75 and a twelve month high of $30.95. The company has a current ratio of 1.48, a quick ratio of 1.46 and a debt-to-equity ratio of 1.34. The company has a market capitalization of $1.31 billion, a PE ratio of -5.57 and a beta of 1.03.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.12 by $0.18. Scorpio Tankers had a negative return on equity of 6.54% and a negative net margin of 23.03%. The business had revenue of $195.83 million for the quarter, compared to the consensus estimate of $186.60 million. During the same quarter in the prior year, the business earned ($1.02) earnings per share. Scorpio Tankers’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, analysts forecast that Scorpio Tankers Inc. will post -0.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Wednesday, June 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.40 annualized dividend and a yield of 1.57%. Scorpio Tankers’s payout ratio is -8.77%.

A number of analysts recently commented on STNG shares. ValuEngine lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. upgraded Scorpio Tankers from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $29.00 to $34.00 in a research note on Thursday, May 16th. Zacks Investment Research downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Saturday, April 20th. Finally, B. Riley upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $22.00 to $25.00 in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Scorpio Tankers currently has an average rating of “Buy” and a consensus price target of $31.63.

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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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