California Public Employees Retirement System lowered its stake in Scorpio Tankers Inc. (NASDAQ:STNG) by 16.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 407,100 shares of the company’s stock after selling 78,500 shares during the period. California Public Employees Retirement System owned 0.25% of Scorpio Tankers worth $1,710,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wall Street Access Asset Management LLC boosted its position in Scorpio Tankers by 4.9% in the second quarter. Wall Street Access Asset Management LLC now owns 107,500 shares of the company’s stock valued at $451,000 after buying an additional 5,000 shares during the last quarter. Putnam FL Investment Management Co. boosted its position in Scorpio Tankers by 19.3% in the second quarter. Putnam FL Investment Management Co. now owns 33,695 shares of the company’s stock valued at $142,000 after buying an additional 5,460 shares during the last quarter. DIAM Co. Ltd. boosted its position in Scorpio Tankers by 8.5% in the second quarter. DIAM Co. Ltd. now owns 135,100 shares of the company’s stock valued at $567,000 after buying an additional 10,600 shares during the last quarter. IBM Retirement Fund purchased a new position in Scorpio Tankers during the second quarter valued at $108,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Scorpio Tankers during the second quarter valued at $135,000.
Shares of Scorpio Tankers Inc. (NASDAQ:STNG) traded down 1.81% on Friday, hitting $4.88. The company had a trading volume of 1,998,089 shares. Scorpio Tankers Inc. has a 1-year low of $4.05 and a 1-year high of $10.11. The company has a 50 day moving average price of $4.86 and a 200 day moving average price of $5.22. The firm has a market capitalization of $787.54 million and a price-to-earnings ratio of 5.60.
Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.03. The business earned $137.21 million during the quarter, compared to analyst estimates of $146.20 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s revenue was down 27.2% on a year-over-year basis. On average, equities analysts forecast that Scorpio Tankers Inc. will post $0.30 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a $0.125 dividend. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.50 annualized dividend and a yield of 10.25%.
Several research analysts have weighed in on the company. Jefferies Group set a $7.00 price objective on Scorpio Tankers and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Deutsche Bank AG set a $9.00 price objective on Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research cut Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. ABN Amro cut Scorpio Tankers from a “buy” rating to a “sell” rating in a research report on Thursday, June 30th. Finally, Clarkson Capital cut Scorpio Tankers from a “buy” rating to a “neutral” rating in a research report on Monday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Scorpio Tankers presently has an average rating of “Hold” and an average target price 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.
Want to see what other hedge funds are holding STNG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Scorpio Tankers Inc. (NASDAQ:STNG).
Receive News & Ratings for Scorpio Tankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers Inc. and related companies with MarketBeat.com's FREE daily email newsletter.