Bank of New York Mellon Corp Acquires 67,900 Shares of Scorpio Tankers Inc. (STNG)

Bank of New York Mellon Corp grew its holdings in Scorpio Tankers Inc. (NASDAQ:STNG) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 641,007 shares of the shipping company’s stock after acquiring an additional 67,900 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Scorpio Tankers worth $2,545,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Scorpio Tankers by 47.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 395,498 shares of the shipping company’s stock valued at $1,571,000 after acquiring an additional 127,396 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Scorpio Tankers by 9.5% in the 2nd quarter. Sei Investments Co. now owns 110,341 shares of the shipping company’s stock valued at $438,000 after acquiring an additional 9,582 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in shares of Scorpio Tankers by 9.0% in the 2nd quarter. Ingalls & Snyder LLC now owns 623,613 shares of the shipping company’s stock valued at $2,476,000 after acquiring an additional 51,395 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in shares of Scorpio Tankers by 7.0% in the 2nd quarter. Malaga Cove Capital LLC now owns 158,190 shares of the shipping company’s stock valued at $633,000 after acquiring an additional 10,328 shares during the last quarter. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Scorpio Tankers by 2.1% in the 2nd quarter. Peregrine Capital Management LLC now owns 1,541,589 shares of the shipping company’s stock valued at $6,120,000 after acquiring an additional 30,995 shares during the last quarter.

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Several analysts have recently commented on the stock. Stifel Nicolaus set a $8.00 price objective on shares of Scorpio Tankers and gave the company a “buy” rating in a report on Monday, August 28th. BidaskClub downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Jefferies Group LLC reissued a “buy” rating and set a $5.50 price target (down from $6.00) on shares of Scorpio Tankers in a report on Saturday, July 22nd. Credit Suisse Group set a $7.00 price target on shares of Scorpio Tankers and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Scorpio Tankers presently has a consensus rating of “Buy” and a consensus price target of $6.33.

Shares of Scorpio Tankers Inc. (STNG) opened at 3.57 on Friday. The company’s 50-day moving average is $3.62 and its 200-day moving average is $3.85. Scorpio Tankers Inc. has a one year low of $3.20 and a one year high of $4.93. The stock’s market capitalization is $647.52 million.

Scorpio Tankers (NASDAQ:STNG) last issued its earnings results on Monday, September 18th. The shipping company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The company had revenue of $118.40 million for the quarter, compared to analysts’ expectations of $130.03 million. Scorpio Tankers had a negative return on equity of 19.98% and a negative net margin of 57.63%. The business’s quarterly revenue was down 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Scorpio Tankers Inc. will post ($0.14) earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 25th were given a dividend of $0.01 per share. The ex-dividend date was Friday, September 22nd. This represents a $0.04 annualized dividend and a dividend yield of 1.12%.

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).

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

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