Impala Asset Management LLC decreased its position in shares of Scorpio Tankers Inc. (NYSE:STNG) by 88.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the shipping company’s stock after selling 2,197,664 shares during the quarter. Impala Asset Management LLC owned approximately 0.11% of Scorpio Tankers worth $1,029,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in STNG. FMR LLC boosted its holdings in shares of Scorpio Tankers by 160.9% during the 2nd quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock valued at $29,710,000 after acquiring an additional 4,615,440 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Scorpio Tankers by 656.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock valued at $16,637,000 after acquiring an additional 4,209,596 shares in the last quarter. Laurion Capital Management LP acquired a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $7,943,000. Solus Alternative Asset Management LP acquired a new stake in shares of Scorpio Tankers during the 2nd quarter valued at $4,963,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Scorpio Tankers by 8.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 15,987,443 shares of the shipping company’s stock valued at $63,471,000 after acquiring an additional 1,247,930 shares in the last quarter. 65.37% of the stock is currently owned by institutional investors.
Shares of Scorpio Tankers Inc. (STNG) traded down $0.13 during trading hours on Wednesday, reaching $3.02. The company had a trading volume of 3,387,800 shares, compared to its average volume of 3,180,833. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99. Scorpio Tankers Inc. has a twelve month low of $3.02 and a twelve month high of $4.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -5.06%.
Several research analysts recently issued reports on the company. Stifel Nicolaus set a $8.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research report on Monday, August 28th. BidaskClub raised Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Jefferies Group reaffirmed a “buy” rating and set a $5.50 target price on shares of Scorpio Tankers in a research report on Tuesday, October 31st. Finally, UBS raised Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 target price for the company in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company. Scorpio Tankers presently has a consensus rating of “Buy” and an average price target of $6.33.
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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