Scorpio Tankers Inc. (NASDAQ:STNG)’s share price was down 7.5% during mid-day trading on Tuesday . The stock traded as low as $3.69 and last traded at $3.72. Approximately 4,975,484 shares changed hands during trading, an increase of 98% from the average daily volume of 2,512,550 shares. The stock had previously closed at $4.02.

Several equities analysts have issued reports on STNG shares. Stifel Nicolaus set a $8.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Monday, August 28th. BidaskClub upgraded shares of Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Credit Suisse Group set a $7.00 target price on shares of Scorpio Tankers and gave the company a “buy” rating in a research note on Wednesday, May 24th. 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 research note on Saturday, July 22nd. Finally, Bank of America Corporation upgraded shares of Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $6.44.

The firm’s market cap is $571.12 million. The firm has a 50-day moving average of $3.64 and a 200 day moving average of $3.95.

Several hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of Scorpio Tankers by 3.6% during the 1st quarter. Wellington Management Group LLP now owns 19,933,081 shares of the shipping company’s stock worth $88,503,000 after buying an additional 684,099 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Scorpio Tankers by 8.5% during 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 period. FMR LLC raised its stake in shares of Scorpio Tankers by 160.9% during 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 period. Boston Partners raised its stake in shares of Scorpio Tankers by 47.6% during the 1st quarter. Boston Partners now owns 4,782,108 shares of the shipping company’s stock worth $21,233,000 after buying an additional 1,542,838 shares during the period. Finally, Investec Asset Management LTD raised its stake in shares of Scorpio Tankers by 6.3% during the 2nd quarter. Investec Asset Management LTD now owns 4,080,901 shares of the shipping company’s stock worth $16,201,000 after buying an additional 241,429 shares during the period.

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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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