Scorpio Tankers Inc. Announces Quarterly Dividend of $0.10 (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNGGet Rating) announced a quarterly dividend on Wednesday, April 27th, Zacks reports. Stockholders of record on Friday, May 20th will be given a dividend of 0.10 per share by the shipping company on Wednesday, June 15th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Thursday, May 19th.

Scorpio Tankers has a dividend payout ratio of 15.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Scorpio Tankers to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 17.9%.

STNG stock opened at $25.11 on Friday. Scorpio Tankers has a one year low of $11.02 and a one year high of $25.02. The stock has a market capitalization of $1.47 billion, a PE ratio of -5.75 and a beta of 0.71. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.53 and a current ratio of 0.55. The company has a fifty day moving average of $19.97 and a 200-day moving average of $16.44.

Scorpio Tankers (NYSE:STNGGet Rating) last released its earnings results on Thursday, April 28th. The shipping company reported ($0.27) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.58) by $0.31. Scorpio Tankers had a negative net margin of 43.35% and a negative return on equity of 11.88%. The company had revenue of $174.00 million during the quarter, compared to analysts’ expectations of $158.43 million. During the same quarter last year, the business earned ($1.05) EPS. The business’s revenue was up 29.7% on a year-over-year basis. Equities analysts forecast that Scorpio Tankers will post -0.02 earnings per share for the current fiscal year.

STNG has been the subject of several recent analyst reports. B. Riley raised their price objective on shares of Scorpio Tankers from $30.00 to $35.00 in a research note on Friday. HC Wainwright raised their price objective on shares of Scorpio Tankers from $28.00 to $38.00 in a research note on Friday. Jefferies Financial Group initiated coverage on shares of Scorpio Tankers in a research note on Wednesday. They issued a “buy” rating and a $27.00 price objective for the company. Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Tuesday, March 29th. Finally, Bank of America upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and raised their price objective for the company from $15.50 to $23.00 in a research note on Thursday, March 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $24.61.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth about $5,146,000. Barclays PLC grew its holdings in shares of Scorpio Tankers by 62.5% during the fourth quarter. Barclays PLC now owns 78,460 shares of the shipping company’s stock worth $1,005,000 after buying an additional 30,191 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Scorpio Tankers by 319.9% during the fourth quarter. Deutsche Bank AG now owns 135,871 shares of the shipping company’s stock worth $1,741,000 after buying an additional 103,515 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth about $1,720,000. Finally, Stifel Financial Corp grew its holdings in shares of Scorpio Tankers by 13.9% during the fourth quarter. Stifel Financial Corp now owns 85,510 shares of the shipping company’s stock worth $1,095,000 after buying an additional 10,411 shares in the last quarter. Institutional investors own 43.85% of the company’s stock.

About Scorpio Tankers (Get Rating)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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Dividend History for Scorpio Tankers (NYSE:STNG)

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