Allianz Asset Management GmbH decreased its stake in Scorpio Tankers Inc. (NYSE:STNG) by 22.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,748,478 shares of the shipping company’s stock after selling 500,623 shares during the quarter. Allianz Asset Management GmbH owned 0.62% of Scorpio Tankers worth $5,997,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC boosted its stake in shares of Scorpio Tankers by 24.5% during the 3rd quarter. Private Advisor Group LLC now owns 88,128 shares of the shipping company’s stock worth $310,000 after acquiring an additional 17,318 shares during the period. California State Teachers Retirement System boosted its stake in shares of Scorpio Tankers by 17.8% during the 3rd quarter. California State Teachers Retirement System now owns 344,143 shares of the shipping company’s stock worth $1,180,000 after acquiring an additional 51,909 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Scorpio Tankers by 5.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after acquiring an additional 875,100 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Scorpio Tankers by 68.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 665,937 shares of the shipping company’s stock valued at $2,285,000 after purchasing an additional 270,439 shares during the period. Finally, Investec Asset Management LTD boosted its stake in Scorpio Tankers by 1.8% in the 3rd quarter. Investec Asset Management LTD now owns 4,155,737 shares of the shipping company’s stock valued at $14,254,000 after purchasing an additional 74,836 shares during the period. 59.04% of the stock is currently owned by institutional investors.
Scorpio Tankers Inc. (NYSE STNG) traded down $0.07 during mid-day trading on Thursday, reaching $3.22. The company had a trading volume of 2,412,248 shares, compared to its average volume of 2,806,756. The firm has a market cap of $1,040.00, a P/E ratio of -4.08 and a beta of 1.59. Scorpio Tankers Inc. has a fifty-two week low of $2.99 and a fifty-two week high of $4.79. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59.
Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, November 16th. The shipping company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.04). The company 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 9.70% and a negative net margin of 30.01%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. equities analysts predict that Scorpio Tankers Inc. will post -0.39 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 13th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, December 12th. Scorpio Tankers’s payout ratio is -5.06%.
Several equities analysts have weighed in on the company. ValuEngine cut Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, December 20th. Jefferies Group started coverage on Scorpio Tankers in a research report on Monday, December 18th. They set a “buy” rating and a $5.00 price objective on the stock. Stifel Nicolaus reduced their price target on Scorpio Tankers from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, November 29th. Finally, Morgan Stanley reduced their price target on Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating on the stock in a research report on Friday, November 17th. Three analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Scorpio Tankers currently has an average rating of “Buy” and an average price target of $6.28.
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Scorpio Tankers Company 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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