Scorpio Tankers (NYSE:STNG) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Scorpio Tankers (NYSE:STNG – Get Rating) from a hold rating to a buy rating in a report released on Monday morning.

Several other equities analysts have also recently weighed in on STNG. Jefferies Financial Group reiterated a maintains rating on shares of Scorpio Tankers in a research note on Thursday, July 28th. BTIG Research reiterated a maintains rating on shares of Scorpio Tankers in a research note on Friday. TheStreet upgraded shares of Scorpio Tankers from a d+ rating to a c rating in a research note on Thursday, July 28th. Clarkson Capital reiterated a buy rating on shares of Scorpio Tankers in a research note on Tuesday, June 14th. Finally, Stifel Nicolaus increased their target price on shares of Scorpio Tankers from $39.00 to $43.00 in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $34.06.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock opened at $40.26 on Monday. The stock has a market cap of $2.35 billion, a price-to-earnings ratio of -63.90 and a beta of 0.51. The firm’s 50-day moving average is $35.37 and its 200 day moving average is $25.22. Scorpio Tankers has a 1 year low of $11.02 and a 1 year high of $42.01. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.16 and a quick ratio of 1.13.

Scorpio Tankers (NYSE:STNG – Get Rating) last posted its earnings results on Thursday, July 28th. The shipping company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.28. The business had revenue of $405.80 million for the quarter, compared to analysts’ expectations of $333.11 million. Scorpio Tankers had a negative net margin of 1.49% and a positive return on equity of 3.37%. The business’s revenue for the quarter was up 191.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.94) EPS. Sell-side analysts anticipate that Scorpio Tankers will post 4.05 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Wednesday, August 10th. Scorpio Tankers’s dividend payout ratio (DPR) is currently -63.49%.

Institutional Investors Weigh In On Scorpio Tankers

A number of institutional investors have recently added to or reduced their stakes in STNG. DnB Asset Management AS purchased a new stake in Scorpio Tankers during the 2nd quarter valued at approximately $15,158,000. Beck Bode LLC bought a new position in shares of Scorpio Tankers during the 1st quarter valued at approximately $8,304,000. Privium Fund Management UK Ltd bought a new position in shares of Scorpio Tankers during the 1st quarter valued at approximately $6,405,000. BNP Paribas Arbitrage SA boosted its position in shares of Scorpio Tankers by 2,008.7% during the 4th quarter. BNP Paribas Arbitrage SA now owns 276,087 shares of the shipping company’s stock valued at $3,537,000 after acquiring an additional 262,994 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Scorpio Tankers by 19.0% during the 1st quarter. State Street Corp now owns 930,715 shares of the shipping company’s stock valued at $19,899,000 after acquiring an additional 148,367 shares during the last quarter. 42.80% of the stock is owned by hedge funds and other institutional investors.

About Scorpio Tankers

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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.