Legal & General Group Plc continued to hold its position in Scorpio Tankers Inc. (NASDAQ:STNG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 51,519 shares of the shipping company’s stock at the close of the 2nd quarter. Legal & General Group Plc’s holdings in Scorpio Tankers were worth $206,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STNG. Nuveen Asset Management LLC increased its position in shares of Scorpio Tankers by 55.5% during the first quarter. Nuveen Asset Management LLC now owns 2,693,022 shares of the shipping company’s stock valued at $11,957,000 after purchasing an additional 960,735 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Scorpio Tankers by 191.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,016,668 shares of the shipping company’s stock valued at $4,514,000 after purchasing an additional 667,860 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Scorpio Tankers by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 14,739,513 shares of the shipping company’s stock valued at $65,444,000 after purchasing an additional 465,968 shares during the period. Highbridge Capital Management LLC bought a new stake in shares of Scorpio Tankers during the first quarter valued at approximately $1,671,000. Finally, UBS Oconnor LLC increased its position in shares of Scorpio Tankers by 401.8% during the first quarter. UBS Oconnor LLC now owns 442,840 shares of the shipping company’s stock valued at $1,966,000 after purchasing an additional 354,583 shares during the period.
STNG has been the topic of a number of research reports. Credit Suisse Group restated a “buy” rating and set a $7.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Stifel Nicolaus set a $8.00 price objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. Jefferies Group LLC restated a “buy” rating and set a $5.50 price objective (down from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $6.33.
Shares of Scorpio Tankers Inc. (STNG) opened at 3.57 on Friday. The firm has a 50-day moving average price of $3.62 and a 200-day moving average price of $3.85. Scorpio Tankers Inc. has a 12 month low of $3.20 and a 12 month high of $4.93. The company’s market capitalization is $647.52 million.
Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The firm had revenue of $118.40 million for the quarter, compared to the consensus estimate of $130.03 million. Scorpio Tankers had a negative return on equity of 19.98% and a negative net margin of 57.63%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. On average, equities research analysts predict that Scorpio Tankers Inc. will post ($0.14) EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 25th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.12%.
About Scorpio Tankers
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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