Scorpio Tankers (NYSE:STNG) Sets New 12-Month High – Here’s What Happened

Scorpio Tankers Inc. (NYSE:STNG)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $73.59 and last traded at $72.9750, with a volume of 406964 shares. The stock had previously closed at $71.80.

Analysts Set New Price Targets

STNG has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a report on Thursday, October 30th. Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Scorpio Tankers in a research report on Friday, February 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Finally, Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Scorpio Tankers Stock Performance

The firm has a market capitalization of $3.80 billion, a PE ratio of 10.37 and a beta of -0.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. The business’s fifty day simple moving average is $59.41 and its 200-day simple moving average is $57.19.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $252.65 million during the quarter, compared to analyst estimates of $238.93 million. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. Scorpio Tankers’s revenue for the quarter was up 23.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, March 6th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. Scorpio Tankers’s dividend payout ratio (DPR) is 25.46%.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds have recently bought and sold shares of STNG. SBI Securities Co. Ltd. boosted its position in Scorpio Tankers by 110.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after buying an additional 246 shares during the period. Global Retirement Partners LLC raised its stake in shares of Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 510 shares in the last quarter. Clearstead Advisors LLC boosted its holdings in shares of Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 205 shares during the period. Zions Bancorporation National Association UT purchased a new position in Scorpio Tankers during the 4th quarter worth $29,000. Finally, Spire Wealth Management raised its position in Scorpio Tankers by 77.1% during the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.