Russell Investments Group Ltd. cut its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 58.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 228,121 shares of the shipping company’s stock after selling 326,891 shares during the quarter. Russell Investments Group Ltd. owned 0.44% of Scorpio Tankers worth $6,735,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in STNG. SG Americas Securities LLC bought a new position in shares of Scorpio Tankers during the first quarter worth approximately $170,000. Teacher Retirement System of Texas acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $216,000. Rubric Capital Management LP acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $9,920,000. Delek Group Ltd. acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $1,957,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $1,043,000. 57.24% of the stock is currently owned by institutional investors.
Shares of NYSE STNG traded up $0.17 during trading hours on Thursday, hitting $30.89. 12,696 shares of the stock were exchanged, compared to its average volume of 752,018. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.13 and a current ratio of 1.15. The company has a market cap of $1.55 billion, a PE ratio of -6.77 and a beta of 1.05. The company’s fifty day simple moving average is $26.07 and its two-hundred day simple moving average is $24.76. Scorpio Tankers Inc. has a 1-year low of $14.75 and a 1-year high of $30.97.
Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, July 31st. The shipping company reported ($0.62) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.09. Scorpio Tankers had a negative net margin of 16.52% and a negative return on equity of 5.50%. The business had revenue of $150.80 million for the quarter, compared to analyst estimates of $148.88 million. During the same quarter last year, the business posted ($0.15) EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post -0.75 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Tuesday, September 10th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $0.40 dividend on an annualized basis and a yield of 1.29%. Scorpio Tankers’s dividend payout ratio is currently -8.77%.
STNG has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Stifel Nicolaus increased their price target on shares of Scorpio Tankers from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. B. Riley set a $40.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BTIG Research set a $38.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Jefferies Financial Group set a $40.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $34.71.
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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