Scorpio Tankers Inc. (STNG) Shares Bought by Peregrine Capital Management LLC
Peregrine Capital Management LLC boosted its holdings in shares of Scorpio Tankers Inc. (NASDAQ:STNG) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,573,711 shares of the shipping company’s stock after acquiring an additional 32,122 shares during the period. Peregrine Capital Management LLC owned about 0.87% of Scorpio Tankers worth $5,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. grew its holdings in Scorpio Tankers by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after acquiring an additional 1,316 shares in the last quarter. Jane Street Group LLC bought a new position in Scorpio Tankers during the 1st quarter worth about $129,000. MML Investors Services LLC grew its holdings in Scorpio Tankers by 137.2% during the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after acquiring an additional 21,250 shares in the last quarter. GSA Capital Partners LLP bought a new position in Scorpio Tankers during the 2nd quarter worth about $154,000. Finally, Karp Capital Management Corp bought a new position in Scorpio Tankers during the 1st quarter worth about $164,000.
Several research analysts have issued reports on STNG shares. Credit Suisse Group reiterated a “buy” rating and set a $7.00 target price on shares of Scorpio Tankers in a report on Tuesday, September 19th. Stifel Nicolaus set a $8.00 target price on shares of Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, August 28th. BidaskClub upgraded shares of Scorpio Tankers from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Jefferies Group LLC reissued a “buy” rating and set a $5.50 price target (down from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Finally, Zacks Investment Research lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Scorpio Tankers presently has an average rating of “Buy” and an average target price of $6.33.
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Shares of Scorpio Tankers Inc. (NASDAQ STNG) opened at $3.46 on Friday.
Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. The company had revenue of $118.40 million during the quarter, compared to the consensus estimate of $130.03 million. The business’s revenue for the quarter was down 13.7% on a year-over-year basis.
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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