Scorpio Tankers Inc. (NYSE:STNG) Stock Now Rated “Hold” by Wall Street Analysts

Scorpio Tankers Inc. (NYSE:STNG) has been given a consensus rating of “Hold” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $91.57.

A number of research analysts have issued reports on the stock. Morgan Stanley set a $86.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 18th. Zacks Research downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, August 4th. BTIG Research raised their target price on shares of Scorpio Tankers from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, September 18th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th.

Insiders Place Their Bets

In related news, COO Cameron Mackey sold 125,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $89.03, for a total transaction of $11,128,750.00. Following the transaction, the chief operating officer directly owned 739,531 shares in the company, valued at approximately $65,840,444.93. This represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Auste Adelborg sold 6,834 shares of the firm’s stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $89.64, for a total value of $612,599.76. The SEC filing for this sale provides additional information. Insiders sold 420,133 shares of company stock worth $36,611,311 in the last three months. Company insiders own 7.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. WINTON GROUP Ltd purchased a new stake in Scorpio Tankers in the second quarter valued at approximately $478,000. Allworth Financial LP raised its stake in Scorpio Tankers by 4.9% during the second quarter. Allworth Financial LP now owns 12,097 shares of the shipping company’s stock worth $838,000 after purchasing an additional 568 shares during the period. Corient Private Wealth LP purchased a new position in Scorpio Tankers during the second quarter worth approximately $318,000. HB Wealth Management LLC acquired a new position in shares of Scorpio Tankers in the 2nd quarter valued at $237,000. Finally, Navellier & Associates Inc. boosted its holdings in shares of Scorpio Tankers by 141.7% in the 2nd quarter. Navellier & Associates Inc. now owns 38,960 shares of the shipping company’s stock valued at $2,698,000 after purchasing an additional 22,839 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $81.56 on Friday. Scorpio Tankers has a fifty-two week low of $48.93 and a fifty-two week high of $90.06. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 5.09 and a beta of -0.22. The stock has a fifty day moving average of $79.88 and a two-hundred day moving average of $77.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.89 and a current ratio of 6.93.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.56 by $0.12. The business had revenue of $408.73 million for the quarter, compared to the consensus estimate of $398.25 million. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The business’s revenue was up 77.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.41 earnings per share. On average, analysts anticipate that Scorpio Tankers will post 11.21 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.45 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. Scorpio Tankers’s payout ratio is currently 11.24%.

Scorpio Tankers Company Profile

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.