Virtu KCG Holdings LLC Increases Position in Scorpio Tankers Inc. (STNG)
Virtu KCG Holdings LLC lifted its position in Scorpio Tankers Inc. (NASDAQ:STNG) by 81.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,963 shares of the shipping company’s stock after purchasing an additional 36,725 shares during the period. Virtu KCG Holdings LLC owned 0.05% of Scorpio Tankers worth $325,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. MML Investors Services LLC boosted its holdings in shares of Scorpio Tankers by 137.2% in the second quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after purchasing an additional 21,250 shares during the period. FMR LLC boosted its holdings in shares of Scorpio Tankers by 160.9% in the second quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock valued at $29,710,000 after purchasing an additional 4,615,440 shares during the period. Northern Trust Corp boosted its holdings in shares of Scorpio Tankers by 2.4% in the second quarter. Northern Trust Corp now owns 1,797,367 shares of the shipping company’s stock valued at $7,136,000 after purchasing an additional 41,353 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Scorpio Tankers in the second quarter valued at approximately $154,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Scorpio Tankers by 12.3% in the second quarter. New York State Common Retirement Fund now owns 170,400 shares of the shipping company’s stock valued at $676,000 after purchasing an additional 18,699 shares during the period.
Shares of Scorpio Tankers Inc. (NASDAQ:STNG) opened at 3.69 on Wednesday. The stock’s market cap is $669.28 million. Scorpio Tankers Inc. has a 12-month low of $3.20 and a 12-month high of $4.93. The firm’s 50-day moving average price is $3.60 and its 200-day moving average price is $3.83.
Scorpio Tankers (NASDAQ:STNG) last issued its quarterly earnings results on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.04). The business had revenue of $118.40 million during the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers had a negative net margin of 57.63% and a negative return on equity of 19.98%. Scorpio Tankers’s revenue was down 13.7% on a year-over-year basis. On average, analysts forecast that Scorpio Tankers Inc. will post ($0.16) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 25th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 22nd. This represents a $0.04 annualized dividend and a dividend yield of 1.08%.
A number of analysts recently issued reports on STNG shares. Stifel Nicolaus set a $8.00 price target on Scorpio Tankers and gave the company a “buy” rating in a report on Monday, August 28th. Credit Suisse Group restated a “buy” rating and set a $7.00 target price on shares of Scorpio Tankers in a report on Tuesday, September 19th. BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Jefferies Group LLC restated a “buy” rating and set a $5.50 target price (down previously from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Finally, Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Scorpio Tankers has an average rating of “Buy” and an average price target of $6.33.
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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