Scorpio Tankers Inc. (NYSE:STNG – Get Rating) declared a quarterly dividend on Wednesday, April 27th, Zacks reports. Stockholders of record on Friday, May 20th will be paid 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 1.60%. 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. Research 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%.
Shares of NYSE STNG traded up $0.33 during midday trading on Friday, reaching $25.01. 13,271 shares of the company traded hands, compared to its average volume of 1,008,209. The stock has a 50-day moving average price of $19.97 and a 200 day moving average price of $16.44. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -5.75 and a beta of 0.71. Scorpio Tankers has a 52 week low of $11.02 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.55 and a quick ratio of 0.53.
A number of large investors have recently made changes to their positions in STNG. UBS Group AG lifted its holdings in shares of Scorpio Tankers by 8.1% in the third quarter. UBS Group AG now owns 56,792 shares of the shipping company’s stock valued at $1,053,000 after purchasing an additional 4,256 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Scorpio Tankers by 94.7% during the third quarter. BNP Paribas Arbitrage SA now owns 13,093 shares of the shipping company’s stock valued at $243,000 after buying an additional 6,369 shares during the period. Bank of New York Mellon Corp lifted its stake in Scorpio Tankers by 7.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 153,824 shares of the shipping company’s stock worth $2,852,000 after acquiring an additional 10,752 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Scorpio Tankers by 7.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 436,907 shares of the shipping company’s stock worth $5,597,000 after acquiring an additional 30,257 shares during the period. Finally, Barclays PLC grew its stake in Scorpio Tankers by 62.5% during the 4th quarter. Barclays PLC now owns 78,460 shares of the shipping company’s stock valued at $1,005,000 after acquiring an additional 30,191 shares in the last quarter. 43.85% of the stock is currently owned by institutional investors.
Several brokerages have recently weighed in on STNG. BTIG Research upped their price objective on Scorpio Tankers from $24.00 to $28.00 in a report on Wednesday, March 23rd. Bank of America raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and upped their price target for the company from $15.50 to $23.00 in a report on Thursday, March 3rd. Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Tuesday, March 29th. StockNews.com upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Thursday. Finally, B. Riley upped their price target on Scorpio Tankers from $30.00 to $35.00 in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $24.61.
Scorpio Tankers Company Profile (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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