Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $88.7143.

A number of equities analysts recently issued reports on the stock. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $100.00 to $78.00 in a research report on Tuesday, June 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Zacks Research raised shares of Scorpio Tankers from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group initiated coverage on Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 price target for the company.

Hedge Funds Weigh In On Scorpio Tankers

Several large investors have recently bought and sold shares of STNG. Merewether Investment Management LP bought a new stake in Scorpio Tankers in the third quarter valued at approximately $38,471,000. Assenagon Asset Management S.A. raised its holdings in Scorpio Tankers by 136.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after purchasing an additional 492,584 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Scorpio Tankers by 68.3% in the 3rd 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 during the period. AQR Capital Management LLC lifted its position in shares of Scorpio Tankers by 91.9% in the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after purchasing an additional 307,815 shares during the period. Finally, Credit Agricole S A bought a new stake in shares of Scorpio Tankers in the 3rd quarter valued at $16,703,000. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $76.43 on Monday. The company has a quick ratio of 13.87, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. The stock has a market cap of $3.85 billion, a PE ratio of 7.52 and a beta of -0.24. Scorpio Tankers has a 12-month low of $42.54 and a 12-month high of $87.39. The business’s 50-day moving average price is $77.60 and its two-hundred day moving average price is $72.20.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.23. The firm had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.03 earnings per share. As a group, analysts expect that Scorpio Tankers will post 12.15 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Friday, May 29th. Scorpio Tankers’s dividend payout ratio is presently 17.70%.

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.