Prudential Financial Inc. Has $1.53 Million Stake in Scorpio Tankers Inc. (STNG)
Prudential Financial Inc. trimmed its holdings in shares of Scorpio Tankers Inc. (NYSE:STNG) by 62.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 445,992 shares of the shipping company’s stock after selling 740,470 shares during the period. Prudential Financial Inc. owned approximately 0.25% of Scorpio Tankers worth $1,529,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Scorpio Tankers by 5.3% during the 3rd quarter. American Century Companies Inc. now owns 2,283,386 shares of the shipping company’s stock valued at $7,832,000 after purchasing an additional 115,050 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in Scorpio Tankers by 2.1% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,573,711 shares of the shipping company’s stock valued at $5,398,000 after purchasing an additional 32,122 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in Scorpio Tankers by 9.2% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 523,045 shares of the shipping company’s stock valued at $1,794,000 after purchasing an additional 44,030 shares during the last quarter. Cetera Investment Advisers bought a new position in Scorpio Tankers during the 2nd quarter valued at about $548,000. Finally, Verition Fund Management LLC lifted its holdings in Scorpio Tankers by 139.6% during the 2nd quarter. Verition Fund Management LLC now owns 215,625 shares of the shipping company’s stock valued at $856,000 after purchasing an additional 125,625 shares during the last quarter. 65.37% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on STNG shares. Jefferies Group reissued a “buy” rating and set a $5.50 price target on shares of Scorpio Tankers in a report on Tuesday, October 31st. Stifel Nicolaus set a $7.00 price target on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Sunday, October 29th. Credit Suisse Group reissued a “buy” rating and set a $7.00 price target on shares of Scorpio Tankers in a report on Tuesday, September 19th. UBS raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 price target for the company in a report on Monday, November 13th. Finally, Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $6.33.
Shares of Scorpio Tankers Inc. (NYSE:STNG) traded up $0.01 during midday trading on Thursday, hitting $3.03. 3,776,800 shares of the company’s stock were exchanged, compared to its average volume of 3,183,369. Scorpio Tankers Inc. has a one year low of $3.01 and a one year high of $4.93. The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59.
Scorpio Tankers (NYSE:STNG) last announced its earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.04). Scorpio Tankers had a negative return on equity of 6.47% and a negative net margin of 31.12%. The company had revenue of $123.20 million during the quarter, compared to the consensus estimate of $129.54 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. equities research analysts anticipate that Scorpio Tankers Inc. will post -0.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is presently -5.06%.
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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).
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