Rhumbline Advisers Acquires 21,655 Shares of Scorpio Tankers Inc. (STNG)
Rhumbline Advisers increased its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 10.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,220 shares of the shipping company’s stock after acquiring an additional 21,655 shares during the quarter. Rhumbline Advisers owned approximately 0.08% of Scorpio Tankers worth $762,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in STNG. Principal Financial Group Inc. increased its stake in Scorpio Tankers by 5.1% in the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after buying an additional 1,316 shares during the period. MML Investors Services LLC increased its stake in Scorpio Tankers by 137.2% in the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after buying an additional 21,250 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Scorpio Tankers during the 2nd quarter worth $154,000. BlueCrest Capital Management Ltd boosted its position in shares of Scorpio Tankers by 498.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 70,897 shares of the shipping company’s stock worth $281,000 after purchasing an additional 59,048 shares in the last quarter. Finally, Pacad Investment Ltd. purchased a new stake in shares of Scorpio Tankers during the 2nd quarter worth $307,000. 59.06% of the stock is currently owned by institutional investors.
Scorpio Tankers Inc. (STNG) remained flat at $$3.04 during trading on Friday. The stock had a trading volume of 2,355,800 shares, compared to its average volume of 3,177,748. Scorpio Tankers Inc. has a fifty-two week low of $2.99 and a fifty-two week high of $4.93. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59.
Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. The business had revenue of $123.20 million during the quarter, compared to analysts’ expectations of $129.54 million. During the same quarter in the prior year, the firm earned ($0.11) earnings per share. Scorpio Tankers’s quarterly revenue was up 7.8% on a year-over-year basis. analysts anticipate that Scorpio Tankers Inc. will post -0.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.04 annualized dividend and a dividend yield of 1.32%. Scorpio Tankers’s dividend payout ratio is presently -5.06%.
Several brokerages have commented on STNG. Stifel Nicolaus restated a “buy” rating and set a $7.00 target price (down from $8.00) on shares of Scorpio Tankers in a research report on Wednesday, September 20th. UBS upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 target price on the stock in a research report on Monday, November 13th. Credit Suisse Group restated a “buy” rating and set a $7.00 target price on shares of Scorpio Tankers in a research report on Tuesday, September 19th. Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Jefferies Group restated a “buy” rating and set a $5.50 target price on shares of Scorpio Tankers in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $6.33.
Scorpio Tankers Profile
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).
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 Analyst Ratings Network's FREE daily email newsletter.