Scorpio Tankers Inc. (STNG) Holdings Trimmed by Cambridge Investment Research Advisors Inc.
Cambridge Investment Research Advisors Inc. lowered its holdings in shares of Scorpio Tankers Inc. (NASDAQ:STNG) by 13.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,661 shares of the shipping company’s stock after selling 7,429 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Scorpio Tankers were worth $193,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its stake in Scorpio Tankers by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock valued at $115,000 after acquiring an additional 3,377 shares in the last quarter. Jane Street Group LLC bought a new stake in Scorpio Tankers during the 1st quarter valued at $129,000. Nisa Investment Advisors LLC bought a new stake in Scorpio Tankers during the 1st quarter valued at $158,000. Karp Capital Management Corp bought a new stake in Scorpio Tankers during the 1st quarter valued at $164,000. Finally, KCG Holdings Inc. raised its stake in Scorpio Tankers by 238.6% during the 1st quarter. KCG Holdings Inc. now owns 45,238 shares of the shipping company’s stock valued at $201,000 after acquiring an additional 31,877 shares in the last quarter.
Shares of Scorpio Tankers Inc. (NASDAQ:STNG) opened at 3.44 on Friday. Scorpio Tankers Inc. has a 1-year low of $3.20 and a 1-year high of $5.01. The stock has a 50 day moving average price of $3.58 and a 200-day moving average price of $3.91. The company’s market cap is $559.73 million.
Scorpio Tankers (NASDAQ:STNG) last announced its quarterly earnings data on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The firm had revenue of $118.40 million during the quarter, compared to the consensus estimate of $130.03 million. Scorpio Tankers had a negative net margin of 9.39% and a negative return on equity of 3.53%. The company’s revenue for the quarter was down 13.7% on a year-over-year basis. Analysts predict that Scorpio Tankers Inc. will post ($0.10) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 25th will be given a $0.01 dividend. The ex-dividend date is Friday, September 22nd. This represents a $0.04 dividend on an annualized basis and a yield of 1.16%.
Several analysts have weighed in on STNG shares. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the company a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 target price (down previously from $8.00) on shares of Scorpio Tankers in a research note on Wednesday. Seaport Global Securities reaffirmed a “buy” rating and set a $7.50 target price on shares of Scorpio Tankers in a research note on Thursday, May 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 25th. Finally, BidaskClub downgraded Scorpio Tankers from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $6.33.
Scorpio Tankers 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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