Scorpio Tankers (NYSE:STNG) Lifted to “Hold” at StockNews.com

StockNews.com upgraded shares of Scorpio Tankers (NYSE:STNGGet Rating) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

STNG has been the topic of several other research reports. Zacks Investment Research upgraded shares of Scorpio Tankers from a sell rating to a hold rating in a research note on Tuesday, March 29th. Jefferies Financial Group started coverage on shares of Scorpio Tankers in a research note on Wednesday. They set a buy rating and a $27.00 price target on the stock. BTIG Research increased their price target on shares of Scorpio Tankers from $24.00 to $28.00 in a research note on Wednesday, March 23rd. Finally, Bank of America upgraded shares of Scorpio Tankers from a neutral rating to a buy rating and increased their price target for the stock 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 assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Buy and an average target price of $21.94.

STNG stock opened at $24.68 on Thursday. Scorpio Tankers has a 12-month low of $11.02 and a 12-month high of $25.02. The company has a quick ratio of 0.53, a current ratio of 0.55 and a debt-to-equity ratio of 1.16. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -5.75 and a beta of 0.71. The company has a 50 day moving average of $19.97 and a two-hundred 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) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $158.43 million. During the same quarter in the prior year, the firm earned ($1.05) EPS. The company’s revenue was up 29.7% compared to the same quarter last year. On average, research analysts anticipate that Scorpio Tankers will post -0.02 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Friday, May 20th will be given a $0.10 dividend. The ex-dividend date is Thursday, May 19th. This represents a $0.40 annualized dividend and a yield of 1.62%. Scorpio Tankers’s dividend payout ratio is -9.32%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. grew its position in Scorpio Tankers by 1.8% in the 3rd quarter. BlackRock Inc. now owns 3,768,203 shares of the shipping company’s stock worth $69,863,000 after purchasing an additional 66,059 shares during the last quarter. Morgan Stanley grew its position in Scorpio Tankers by 38.2% in the 3rd quarter. Morgan Stanley now owns 895,779 shares of the shipping company’s stock worth $16,608,000 after purchasing an additional 247,474 shares during the last quarter. Royce & Associates LP grew its position in Scorpio Tankers by 22.8% in the 4th quarter. Royce & Associates LP now owns 595,276 shares of the shipping company’s stock worth $7,625,000 after purchasing an additional 110,600 shares during the last quarter. Peregrine Capital Management LLC grew its position in Scorpio Tankers by 11.4% in the 1st quarter. Peregrine Capital Management LLC now owns 567,455 shares of the shipping company’s stock worth $12,132,000 after purchasing an additional 58,008 shares during the last quarter. Finally, Natixis grew its position in Scorpio Tankers by 1.0% in the 3rd quarter. Natixis now owns 494,800 shares of the shipping company’s stock worth $9,173,000 after purchasing an additional 5,000 shares during 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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