Russell Investments Group Ltd. Acquires 570,834 Shares of Scorpio Tankers Inc. (STNG)

Russell Investments Group Ltd. raised its stake in shares of Scorpio Tankers Inc. (NASDAQ:STNG) by 48.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,739,458 shares of the shipping company’s stock after buying an additional 570,834 shares during the period. Russell Investments Group Ltd. owned about 1.07% of Scorpio Tankers worth $7,721,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Numeric Investors LLC raised its stake in shares of Scorpio Tankers by 54.8% in the fourth quarter. Numeric Investors LLC now owns 2,902,400 shares of the shipping company’s stock valued at $13,148,000 after buying an additional 1,028,000 shares during the period. Bowling Portfolio Management LLC raised its stake in shares of Scorpio Tankers by 470.7% in the fourth quarter. Bowling Portfolio Management LLC now owns 117,915 shares of the shipping company’s stock valued at $534,000 after buying an additional 97,254 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Scorpio Tankers during the fourth quarter valued at $244,000. Allianz Asset Management AG raised its stake in shares of Scorpio Tankers by 38.6% in the fourth quarter. Allianz Asset Management AG now owns 2,179,566 shares of the shipping company’s stock valued at $9,874,000 after buying an additional 607,469 shares during the period. Finally, Zebra Capital Management LLC raised its stake in shares of Scorpio Tankers by 85.6% in the fourth quarter. Zebra Capital Management LLC now owns 320,935 shares of the shipping company’s stock valued at $1,454,000 after buying an additional 147,994 shares during the period.

Institutional Ownership by Quarter for Scorpio Tankers (NASDAQ:STNG)

Scorpio Tankers Inc. (NASDAQ STNG) traded up 3.29% during trading on Friday, reaching $3.77. 3,933,668 shares of the company’s stock were exchanged. Scorpio Tankers Inc. has a 52-week low of $3.42 and a 52-week high of $5.53. The stock’s 50 day moving average price is $4.01 and its 200 day moving average price is $4.16. The firm’s market cap is $613.42 million.

Scorpio Tankers (NASDAQ:STNG) last posted its quarterly earnings results on Thursday, April 27th. The shipping company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.03. Scorpio Tankers had a negative net margin of 9.39% and a negative return on equity of 3.53%. The company had revenue of $122.80 million for the quarter, compared to the consensus estimate of $119.80 million. During the same period last year, the company posted $0.19 EPS. The firm’s quarterly revenue was down 25.6% compared to the same quarter last year. Equities research analysts anticipate that Scorpio Tankers Inc. will post $0.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Thursday, May 11th were paid a $0.01 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.06%.

TRADEMARK VIOLATION NOTICE: This article was first reported by Chaffey Breeze and is owned by of Chaffey Breeze. If you are accessing this article on another website, it was illegally copied and reposted in violation of United States and international copyright law. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/06/16/russell-investments-group-ltd-purchases-570834-shares-of-scorpio-tankers-inc-stng-updated-updated.html.

Several brokerages have recently weighed in on STNG. Zacks Investment Research upgraded shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Saturday, February 18th. Credit Suisse Group reiterated a “neutral” rating on shares of Scorpio Tankers in a research report on Wednesday, February 22nd. ABN Amro upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research report on Wednesday, February 22nd. Pareto Securities upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Thursday, February 23rd. 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 report on Friday, May 12th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $6.50.

About Scorpio Tankers

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).

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.

Latest News

Leave a Reply