Scorpio Tankers Inc. (NYSE:STNG) was down 7.1% on Wednesday . The stock traded as low as $1.91 and last traded at $1.95. Approximately 2,164,800 shares were traded during trading, a decline of 39% from the average daily volume of 3,563,732 shares. The stock had previously closed at $2.10.

Several equities research analysts recently weighed in on STNG shares. Bank of America dropped their price target on Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Stifel Nicolaus set a $5.00 price target on Scorpio Tankers and gave the company a “buy” rating in a research report on Tuesday, July 31st. ValuEngine upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Morgan Stanley dropped their price target on Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating on the stock in a research report on Wednesday, August 1st. Finally, Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of “Buy” and an average target price of $4.20.

The company has a market cap of $699.74 million, a PE ratio of -4.15 and a beta of 1.09. The company has a quick ratio of 0.71, a current ratio of 0.73 and a debt-to-equity ratio of 1.51.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $141.80 million for the quarter, compared to analysts’ expectations of $144.35 million. Scorpio Tankers had a negative net margin of 31.44% and a negative return on equity of 9.08%. The firm’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. analysts expect that Scorpio Tankers Inc. will post -0.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Wednesday, September 19th. Scorpio Tankers’s payout ratio is -8.51%.

A number of large investors have recently made changes to their positions in the business. Northern Trust Corp raised its stake in Scorpio Tankers by 11.5% during the second quarter. Northern Trust Corp now owns 2,708,036 shares of the shipping company’s stock valued at $7,610,000 after buying an additional 279,188 shares during the last quarter. Millennium Management LLC raised its stake in Scorpio Tankers by 805.8% during the second quarter. Millennium Management LLC now owns 259,955 shares of the shipping company’s stock valued at $730,000 after buying an additional 231,256 shares during the last quarter. Voya Investment Management LLC raised its stake in Scorpio Tankers by 27.0% during the second quarter. Voya Investment Management LLC now owns 111,860 shares of the shipping company’s stock valued at $314,000 after buying an additional 23,747 shares during the last quarter. Benefit Street Partners LLC purchased a new position in Scorpio Tankers during the second quarter valued at $19,285,000. Finally, Precocity Capital LP purchased a new position in Scorpio Tankers during the second quarter valued at $4,637,000. Institutional investors and hedge funds own 60.65% of the company’s stock.

About Scorpio Tankers (NYSE:STNG)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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