Scorpio Tankers Inc. (STNG) Shares Bought by Private Advisor Group LLC
Private Advisor Group LLC grew its position in Scorpio Tankers Inc. (NYSE:STNG) by 24.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,128 shares of the shipping company’s stock after acquiring an additional 17,318 shares during the quarter. Private Advisor Group LLC’s holdings in Scorpio Tankers were worth $310,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in shares of Scorpio Tankers by 5.1% during the second quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after purchasing an additional 1,316 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Scorpio Tankers by 137.2% during the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after purchasing an additional 21,250 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Scorpio Tankers during the second quarter worth approximately $154,000. BlueCrest Capital Management Ltd raised its stake in shares of Scorpio Tankers by 498.3% during the second 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 during the last quarter. Finally, Pacad Investment Ltd. purchased a new stake in shares of Scorpio Tankers during the second quarter worth approximately $307,000. 59.06% of the stock is owned by institutional investors and hedge funds.
STNG has been the subject of several analyst reports. Credit Suisse Group restated a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a research note on Tuesday, September 19th. Stifel Nicolaus set a $8.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research note on Monday, August 28th. BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. Finally, Morgan Stanley cut their price target on Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating for the company in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $6.33.
Scorpio Tankers Inc. (STNG) traded down $0.15 during trading hours on Thursday, reaching $3.04. The company’s stock had a trading volume of 3,413,300 shares, compared to its average volume of 3,181,173. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99. Scorpio Tankers Inc. has a 1 year low of $2.99 and a 1 year high of $4.93.
Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.04). The business had revenue of $123.20 million during the quarter, compared to analysts’ expectations of $129.54 million. Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) EPS. sell-side analysts anticipate that Scorpio Tankers Inc. will post -0.39 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 1.32%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s payout ratio is -5.06%.
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).
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