Scorpio Tankers Inc. (STNG) Shares Sold by Bank of New York Mellon Corp
Bank of New York Mellon Corp reduced its stake in Scorpio Tankers Inc. (NASDAQ:STNG) by 3.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 402,730 shares of the company’s stock after selling 14,911 shares during the period. Bank of New York Mellon Corp owned approximately 0.25% of Scorpio Tankers worth $1,692,000 at the end of the most recent reporting period.
Separately, IBM Retirement Fund purchased a new position in Scorpio Tankers during the second quarter valued at $108,000.
Scorpio Tankers Inc. (NASDAQ:STNG) traded down 1.81% on Friday, reaching $4.88. The company had a trading volume of 1,998,089 shares. Scorpio Tankers Inc. has a 12-month low of $4.05 and a 12-month high of $10.11. The stock has a market capitalization of $787.54 million and a PE ratio of 5.60. The stock’s 50 day moving average price is $4.86 and its 200-day moving average price is $5.22.
Scorpio Tankers (NASDAQ:STNG) last issued its earnings results on Thursday, July 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The company had revenue of $137.21 million for the quarter, compared to the consensus estimate of $146.20 million. During the same quarter in the prior year, the company earned $0.32 EPS. The company’s revenue was down 27.2% compared to the same quarter last year. Equities analysts expect that Scorpio Tankers Inc. will post $0.30 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 10.25%. The ex-dividend date of this dividend was Tuesday, September 13th.
Several research firms have recently weighed in on STNG. Jefferies Group set a $7.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a report on Wednesday, July 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $9.00 price target on shares of Scorpio Tankers in a report on Wednesday, July 6th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $4.50 price target (down previously from $6.00) on shares of Scorpio Tankers in a report on Friday, August 26th. Clarkson Capital cut shares of Scorpio Tankers from a “buy” rating to a “neutral” rating in a report on Monday, October 3rd. Finally, Zacks Investment Research cut shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $6.83.
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, Panamax/LR1 and Aframax/LR2. The Company’s fleet consists of approximately 78 tankers (over 18 LR2 tankers, approximately 14 Handymax tankers and over 46 MR tankers) with a weighted average age of approximately 1.5 years, and approximately 11 time chartered-in tankers, which it operates (approximately three LR2 tankers, a LR1 tanker, over four MR tankers and approximately three Handymax tankers), which it refers to collectively as its Operating Fleet.
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