Legal & General Group Plc cut its stake in Scorpio Tankers Inc. (NASDAQ:STNG) by 1.4% during the first quarter, Holdings Channel reports. The firm owned 51,519 shares of the shipping company’s stock after selling 723 shares during the period. Legal & General Group Plc’s holdings in Scorpio Tankers were worth $231,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the company. Karp Capital Management Corp bought a new stake in Scorpio Tankers during the first quarter valued at $164,000. Cedar Capital LLC raised its stake in Scorpio Tankers by 23.6% in the first quarter. Cedar Capital LLC now owns 596,379 shares of the shipping company’s stock valued at $2,648,000 after buying an additional 113,858 shares during the period. Comerica Bank raised its stake in Scorpio Tankers by 0.3% in the first quarter. Comerica Bank now owns 3,144,642 shares of the shipping company’s stock valued at $14,372,000 after buying an additional 8,220 shares during the period. Bank of New York Mellon Corp raised its stake in Scorpio Tankers by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 573,107 shares of the shipping company’s stock valued at $2,544,000 after buying an additional 36,402 shares during the period. Finally, Boston Partners raised its stake in Scorpio Tankers by 47.6% in the first quarter. Boston Partners now owns 4,782,108 shares of the shipping company’s stock valued at $21,233,000 after buying an additional 1,542,838 shares during the period.
Shares of Scorpio Tankers Inc. (NASDAQ STNG) traded down 1.17% on Friday, reaching $3.38. The company’s stock had a trading volume of 416,722 shares. Scorpio Tankers Inc. has a 1-year low of $3.32 and a 1-year high of $5.53. The firm’s market cap is $549.96 million. The company’s 50 day moving average is $3.78 and its 200-day moving average is $3.98.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.tickerreport.com/banking-finance/2801404/legal-general-group-plc-has-231000-stake-in-scorpio-tankers-inc-stng.html.
Several research firms recently weighed in on STNG. Bank of America Corporation upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 target price for the company in a report on Friday, May 12th. Cowen and Company restated an “outperform” rating and issued a $7.00 target price (down from $10.00) on shares of Scorpio Tankers in a report on Thursday, April 27th. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a report on Wednesday, May 24th. Jefferies Group LLC restated a “buy” rating and issued a $6.00 target price on shares of Scorpio Tankers in a report on Thursday, May 25th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $8.00 target price on shares of Scorpio Tankers in a report on Thursday, May 25th. One equities 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’s stock. Scorpio Tankers currently has a consensus rating of “Buy” and a consensus price target of $6.44.
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).
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.