Scorpio Tankers Inc. (NYSE:STNG) Given Average Rating of “Moderate Buy” by Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $88.7143.

A number of brokerages have weighed in on STNG. Evercore reiterated an “outperform” rating and set a $98.00 target price on shares of Scorpio Tankers in a research report on Wednesday, May 27th. Zacks Research upgraded shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. BTIG Research lifted their price objective on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Wall Street Zen cut shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Finally, Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating and cut their price target for the stock from $100.00 to $78.00 in a report on Tuesday, June 30th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ticino Wealth bought a new stake in shares of Scorpio Tankers during the 4th quarter worth $9,526,000. GSA Capital Partners LLP increased its stake in Scorpio Tankers by 414.9% in the fourth quarter. GSA Capital Partners LLP now owns 63,171 shares of the shipping company’s stock valued at $3,211,000 after acquiring an additional 50,902 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Scorpio Tankers by 136.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock valued at $43,394,000 after acquiring an additional 492,584 shares during the last quarter. Boothbay Fund Management LLC increased its stake in Scorpio Tankers by 68.2% in the third quarter. Boothbay Fund Management LLC now owns 45,895 shares of the shipping company’s stock valued at $2,572,000 after acquiring an additional 18,607 shares during the last quarter. Finally, Ruffer LLP purchased a new stake in Scorpio Tankers during the fourth quarter valued at about $4,374,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Down 0.1%

STNG stock opened at $76.43 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 13.87 and a current ratio of 13.98. The company has a market capitalization of $3.85 billion, a price-to-earnings ratio of 7.52 and a beta of -0.24. Scorpio Tankers has a fifty-two week low of $42.54 and a fifty-two week high of $87.39. The stock has a fifty day moving average of $77.60 and a 200-day moving average of $72.35.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The business had revenue of $312.86 million for the quarter, compared to analysts’ expectations of $286.81 million. During the same period in the previous year, the business posted $1.03 EPS. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. As a group, equities research analysts predict that Scorpio Tankers will post 12.15 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. Scorpio Tankers’s dividend payout ratio is 17.70%.

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.