Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Declines By 31.1%

Scorpio Tankers Inc. (NYSE:STNG) was the recipient of a large decline in short interest in February. As of February 27th, there was short interest totaling 1,281,388 shares, a decline of 31.1% from the February 12th total of 1,858,875 shares. Currently, 2.7% of the company’s stock are sold short. Based on an average trading volume of 992,925 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 992,925 shares, the short-interest ratio is presently 1.3 days. Currently, 2.7% of the company’s stock are sold short.

Scorpio Tankers Stock Performance

STNG stock traded down $1.01 during trading hours on Friday, hitting $66.41. 1,675,485 shares of the stock were exchanged, compared to its average volume of 1,219,978. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $81.85. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $3.44 billion, a P/E ratio of 9.39 and a beta of -0.31. The company has a 50-day simple moving average of $66.24 and a two-hundred day simple moving average of $59.88.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The business had revenue of $252.65 million for the quarter, compared to the consensus estimate of $238.93 million. During the same period in the prior year, the company posted $0.63 earnings per share. Scorpio Tankers’s revenue was up 23.8% compared to the same quarter last year. On average, analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.45 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Friday, March 6th. Scorpio Tankers’s payout ratio is 25.46%.

Analyst Ratings Changes

STNG has been the topic of a number of recent analyst reports. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Evercore reaffirmed an “outperform” rating and set a $83.00 price objective on shares of Scorpio Tankers in a research report on Friday, February 13th. Bank of America reissued an “underperform” rating on shares of Scorpio Tankers in a research report on Monday, March 9th. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a report on Friday, February 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the business. SBI Securities Co. Ltd. grew its position in Scorpio Tankers by 110.3% during the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after buying an additional 246 shares in the last quarter. Clearstead Advisors LLC raised its holdings in Scorpio Tankers by 67.9% in the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 205 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Scorpio Tankers by 1,645.2% during the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 510 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Scorpio Tankers during the 4th quarter valued at $29,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Scorpio Tankers during the 3rd quarter worth $36,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.