Scorpio Tankers (NYSE:STNG) Shares Up 4.7% – Here’s Why

Scorpio Tankers Inc. (NYSE:STNG)’s stock price traded up 4.7% during trading on Friday . The company traded as high as $59.99 and last traded at $59.7630. 111,776 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,130,208 shares. The stock had previously closed at $57.09.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Zacks Research cut Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. B. Riley restated a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $70.00 price target on shares of Scorpio Tankers in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $70.17.

Scorpio Tankers Stock Up 2.6%

The company has a fifty day simple moving average of $55.34 and a 200-day simple moving average of $53.90. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.99 billion, a P/E ratio of 9.91 and a beta of -0.27.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.39 by $0.10. The firm had revenue of $232.92 million for the quarter, compared to the consensus estimate of $228.09 million. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. On average, equities analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 5th. Shareholders of record on Friday, November 14th were issued a dividend of $0.42 per share. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, November 14th. Scorpio Tankers’s payout ratio is presently 28.43%.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of STNG. Dimensional Fund Advisors LP lifted its stake in shares of Scorpio Tankers by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock valued at $165,064,000 after buying an additional 7,868 shares in the last quarter. American Century Companies Inc. raised its holdings in Scorpio Tankers by 7.6% during the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock valued at $107,265,000 after acquiring an additional 135,123 shares during the period. Victory Capital Management Inc. lifted its position in shares of Scorpio Tankers by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock valued at $70,053,000 after acquiring an additional 83,294 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Scorpio Tankers by 136.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after acquiring an additional 492,584 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Scorpio Tankers by 68.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after purchasing an additional 326,973 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.