California State Teachers Retirement System decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 9.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 292,234 shares of the shipping company’s stock after selling 29,800 shares during the period. California State Teachers Retirement System owned about 0.18% of Scorpio Tankers worth $1,160,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. FMR LLC grew its stake in shares of Scorpio Tankers by 160.9% in the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after buying an additional 4,615,440 shares during the last quarter. Laurion Capital Management LP purchased a new stake in shares of Scorpio Tankers in the 2nd quarter worth approximately $7,943,000. Solus Alternative Asset Management LP purchased a new stake in shares of Scorpio Tankers in the 2nd quarter worth approximately $4,963,000. Dimensional Fund Advisors LP grew its stake in shares of Scorpio Tankers by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,987,443 shares of the shipping company’s stock worth $63,471,000 after buying an additional 1,247,930 shares during the last quarter. Finally, UBS Oconnor LLC grew its stake in shares of Scorpio Tankers by 251.6% in the 2nd quarter. UBS Oconnor LLC now owns 1,556,863 shares of the shipping company’s stock worth $6,181,000 after buying an additional 1,114,023 shares during the last quarter. Hedge funds and other institutional investors own 56.33% of the company’s stock.

Scorpio Tankers Inc. (STNG) opened at $3.31 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.03. Scorpio Tankers Inc. has a twelve month low of $3.20 and a twelve month high of $4.93.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. Scorpio Tankers’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.11) earnings per share. sell-side analysts anticipate that Scorpio Tankers Inc. will post -0.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, December 12th. This represents a $0.04 annualized dividend and a dividend yield of 1.21%. Scorpio Tankers’s payout ratio is -5.06%.

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STNG has been the topic of several recent research reports. Credit Suisse Group restated a “buy” rating and issued 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 objective on Scorpio Tankers and gave the company a “buy” rating in a research report on Monday, August 28th. BidaskClub raised Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Scorpio Tankers in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $6.44.

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).

Institutional Ownership by Quarter for Scorpio Tankers (NYSE:STNG)

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