Scorpio Tankers Inc. (STNG) Position Boosted by Voya Investment Management LLC
Voya Investment Management LLC boosted its holdings in Scorpio Tankers Inc. (NYSE:STNG) by 27.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,860 shares of the shipping company’s stock after buying an additional 23,747 shares during the quarter. Voya Investment Management LLC’s holdings in Scorpio Tankers were worth $314,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Benefit Street Partners LLC acquired a new position in shares of Scorpio Tankers during the 2nd quarter valued at $19,285,000. Precocity Capital LP acquired a new position in Scorpio Tankers in the 2nd quarter worth $4,637,000. Investec Asset Management LTD lifted its holdings in Scorpio Tankers by 4.0% in the 2nd quarter. Investec Asset Management LTD now owns 2,203,776 shares of the shipping company’s stock worth $6,193,000 after buying an additional 85,759 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Scorpio Tankers by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 22,504,917 shares of the shipping company’s stock worth $63,240,000 after buying an additional 712,528 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Scorpio Tankers by 18.5% in the 2nd quarter. BlackRock Inc. now owns 14,380,319 shares of the shipping company’s stock worth $40,407,000 after buying an additional 2,248,469 shares in the last quarter. 61.28% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on STNG. Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. ValuEngine lowered shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Monday, July 16th. Morgan Stanley cut their price objective on shares of Scorpio Tankers from $3.00 to $2.70 and set an “overweight” rating on the stock in a report on Wednesday, August 1st. Stifel Nicolaus set a $5.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a report on Tuesday, July 31st. Finally, Bank of America cut their price objective on shares of Scorpio Tankers from $3.75 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $4.03.
Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 31st. The shipping company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.01). The company had revenue of $141.80 million during the quarter, compared to the consensus estimate of $144.35 million. Scorpio Tankers had a negative return on equity of 9.08% and a negative net margin of 31.44%. Scorpio Tankers’s revenue for the quarter was up 19.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.09) EPS. As a group, equities analysts anticipate that Scorpio Tankers Inc. will post -0.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Stockholders of record on Thursday, September 20th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date was Wednesday, September 19th. Scorpio Tankers’s payout ratio is currently -8.51%.
Scorpio Tankers Company Profile
Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.
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