Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Rating of “Hold” by Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received a consensus rating of “Hold” from the eleven brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $89.5714.

STNG has been the subject of several research reports. BTIG Research raised their price objective on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $100.00 to $78.00 in a report on Tuesday, June 30th. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Morgan Stanley set a $82.00 target price on shares of Scorpio Tankers and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $100.00 price target on shares of Scorpio Tankers in a research report on Tuesday.

Scorpio Tankers Trading Up 3.1%

Shares of STNG stock opened at $76.35 on Friday. The stock has a 50-day simple moving average of $76.72 and a 200 day simple moving average of $74.65. Scorpio Tankers has a fifty-two week low of $43.78 and a fifty-two week high of $87.39. The stock has a market capitalization of $3.85 billion, a P/E ratio of 4.77 and a beta of -0.22. The company has a quick ratio of 13.87, a current ratio of 6.93 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The firm had revenue of $408.73 million for the quarter, compared to analyst estimates of $398.25 million. During the same period in the previous year, the company earned $1.41 earnings per share. Scorpio Tankers’s revenue was up 77.5% compared to the same quarter last year. On average, sell-side analysts expect that Scorpio Tankers will post 11.1 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.80 annualized dividend and a dividend yield of 2.4%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.24%.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently modified their holdings of the stock. Ticino Wealth acquired a new position in Scorpio Tankers during the fourth quarter valued at $9,526,000. GSA Capital Partners LLP boosted its position in Scorpio Tankers by 414.9% during the 4th quarter. GSA Capital Partners LLP now owns 63,171 shares of the shipping company’s stock worth $3,211,000 after acquiring an additional 50,902 shares during the period. SBI Securities Co. Ltd. boosted its position in Scorpio Tankers by 1,708.7% during the 4th quarter. SBI Securities Co. Ltd. now owns 8,483 shares of the shipping company’s stock worth $431,000 after acquiring an additional 8,014 shares during the period. Ruffer LLP acquired a new stake in Scorpio Tankers during the 4th quarter worth about $4,374,000. Finally, Integrated Advisors Network LLC purchased a new position in Scorpio Tankers during the 1st quarter valued at about $2,527,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.