Delek Group Ltd. purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 991,517 shares of the shipping company’s stock, valued at approximately $3,020,000. Delek Group Ltd. owned about 0.32% of Scorpio Tankers as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vitol Holding SARL grew its holdings in shares of Scorpio Tankers by 4,700.0% during the third quarter. Vitol Holding SARL now owns 1,200,000 shares of the shipping company’s stock worth $4,116,000 after buying an additional 1,175,000 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Scorpio Tankers by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after buying an additional 875,100 shares during the last quarter. Blackstone Group L.P. purchased a new position in shares of Scorpio Tankers during the third quarter worth about $14,310,000. Bank of New York Mellon Corp grew its holdings in shares of Scorpio Tankers by 656.7% during the third quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock worth $16,637,000 after buying an additional 4,209,596 shares during the last quarter. Finally, Monarch Alternative Capital LP purchased a new position in shares of Scorpio Tankers during the third quarter worth about $32,371,000. 64.75% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scorpio Tankers stock opened at $2.09 on Thursday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.34 and a quick ratio of 1.29. The company has a market cap of $705.26, a PE ratio of -2.75 and a beta of 1.35. Scorpio Tankers Inc. has a 12-month low of $2.07 and a 12-month high of $4.65.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Monday, March 12th will be given a $0.01 dividend. The ex-dividend date is Friday, March 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.91%. Scorpio Tankers’s payout ratio is currently -5.26%.
A number of equities analysts recently issued reports on STNG shares. ValuEngine lowered Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Zacks Investment Research lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Wednesday, December 20th. Stifel Nicolaus lowered their price target on Scorpio Tankers from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 29th. Credit Suisse Group lowered their price target on Scorpio Tankers from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Finally, Jefferies Group initiated coverage on shares of Scorpio Tankers in a research report on Monday, December 18th. They issued a “buy” rating and a $5.00 price objective for the company. Three research analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. Scorpio Tankers presently has a consensus rating of “Hold” and a consensus price target of $5.03.
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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