UBS upgraded shares of Scorpio Tankers (NYSE:STNG) from a neutral rating to a buy rating in a research report report published on Monday, November 13th, www.benzinga.com reports. They currently have $5.50 price target on the shipping company’s stock.
A number of other research analysts also recently issued reports on the company. Credit Suisse Group reissued a buy rating and issued a $7.00 price target on shares of Scorpio Tankers in a report on Tuesday, September 19th. Stifel Nicolaus set a $8.00 target price on Scorpio Tankers and gave the stock a buy rating in a research note on Monday, August 28th. BidaskClub raised Scorpio Tankers from a strong sell rating to a sell rating in a research note on Friday, August 25th. Jefferies Group reaffirmed a buy rating and set a $5.50 target price (down from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. Finally, Zacks Investment Research raised Scorpio Tankers from a sell rating to a hold rating in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. Scorpio Tankers currently has an average rating of Buy and an average target price of $6.33.
Shares of Scorpio Tankers (STNG) traded down $0.03 during mid-day trading on Monday, hitting $3.07. The stock had a trading volume of 2,920,000 shares, compared to its average volume of 3,350,000. Scorpio Tankers has a 1-year low of $3.06 and a 1-year high of $4.93. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.99 and a current ratio of 1.03.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend is Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is presently -5.06%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in Scorpio Tankers by 6.8% during the 1st quarter. Bank of New York Mellon Corp now owns 573,107 shares of the shipping company’s stock worth $2,544,000 after acquiring an additional 36,402 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Scorpio Tankers by 54.9% during the 1st quarter. OppenheimerFunds Inc. now owns 62,023 shares of the shipping company’s stock worth $275,000 after acquiring an additional 21,986 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Scorpio Tankers by 15.0% during the 1st quarter. Principal Financial Group Inc. now owns 25,836 shares of the shipping company’s stock worth $115,000 after acquiring an additional 3,377 shares in the last quarter. Teachers Advisors LLC lifted its stake in Scorpio Tankers by 6.7% during the 1st quarter. Teachers Advisors LLC now owns 289,807 shares of the shipping company’s stock worth $1,287,000 after acquiring an additional 18,139 shares in the last quarter. Finally, TIAA CREF Investment Management LLC lifted its stake in Scorpio Tankers by 34.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 904,593 shares of the shipping company’s stock worth $4,016,000 after acquiring an additional 232,159 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.
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).
Receive News & Ratings for Scorpio Tankers Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers Inc. and related companies with our FREE daily email newsletter.