Scorpio Tankers (NYSE:STNG) Stock Price Up 6%

Scorpio Tankers Inc. (NYSE:STNGGet Rating)’s stock price traded up 6% during mid-day trading on Friday . The stock traded as high as $44.47 and last traded at $44.40. 4,406 shares were traded during trading, a decline of 99% from the average session volume of 867,002 shares. The stock had previously closed at $41.87.

Analysts Set New Price Targets

Several research analysts have recently weighed in on STNG shares. Deutsche Bank Aktiengesellschaft upped their price target on shares of Scorpio Tankers from $10.50 to $34.00 and gave the stock a “sell” rating in a report on Tuesday, September 6th. B. Riley boosted their price target on shares of Scorpio Tankers from $45.00 to $50.00 in a research note on Friday, July 29th. BTIG Research increased their price target on Scorpio Tankers from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 28th. TheStreet raised Scorpio Tankers from a “d+” rating to a “c” rating in a research report on Thursday, July 28th. Finally, Stifel Nicolaus raised their price target on Scorpio Tankers from $39.00 to $43.00 in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $42.14.

Scorpio Tankers Trading Up 5.6 %

The company has a current ratio of 1.53, a quick ratio of 1.50 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $38.91 and a 200-day simple moving average of $30.57. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -70.21, a P/E/G ratio of 0.10 and a beta of 0.48.

Scorpio Tankers (NYSE:STNGGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The shipping company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.25. Scorpio Tankers had a positive return on equity of 3.32% and a negative net margin of 1.49%. The company had revenue of $405.80 million during the quarter, compared to analyst estimates of $333.11 million. During the same period in the previous year, the company earned ($0.94) earnings per share. The company’s quarterly revenue was up 191.1% compared to the same quarter last year. On average, research analysts forecast that Scorpio Tankers Inc. will post 7.27 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, August 10th. Scorpio Tankers’s dividend payout ratio is currently -63.49%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC bought a new position in Scorpio Tankers in the second quarter valued at approximately $28,000. US Bancorp DE raised its holdings in Scorpio Tankers by 38.7% in the 2nd quarter. US Bancorp DE now owns 1,082 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 302 shares in the last quarter. Ellevest Inc. raised its holdings in shares of Scorpio Tankers by 108.6% during the 2nd quarter. Ellevest Inc. now owns 1,882 shares of the shipping company’s stock worth $65,000 after buying an additional 980 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of Scorpio Tankers by 243.8% during the 2nd quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company’s stock worth $78,000 after buying an additional 1,599 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its position in Scorpio Tankers by 834.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,279 shares of the shipping company’s stock worth $79,000 after acquiring an additional 2,035 shares during the last quarter. Institutional investors and hedge funds own 50.20% 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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