Scorpio Tankers (NYSE:STNG) Reaches New 12-Month High – Here’s What Happened

Scorpio Tankers Inc. (NYSE:STNG) reached a new 52-week high during trading on Monday . The company traded as high as $83.74 and last traded at $83.0940, with a volume of 2695 shares changing hands. The stock had previously closed at $82.99.

Wall Street Analysts Forecast Growth

STNG has been the subject of a number of research reports. Evercore reiterated an “outperform” rating and set a $93.00 target price on shares of Scorpio Tankers in a research report on Tuesday, April 21st. Dnb Carnegie downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $83.00 target price on shares of Scorpio Tankers in a research report on Friday, February 13th. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. Finally, BTIG Research increased their target price on Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.50.

Scorpio Tankers Stock Up 0.8%

The company has a fifty day moving average of $74.80 and a two-hundred day moving average of $64.52. The company has a market cap of $4.33 billion, a PE ratio of 11.84 and a beta of -0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Friday, February 13th. The shipping company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The company had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. During the same quarter in the prior year, the firm posted $0.63 EPS. Scorpio Tankers’s quarterly revenue was up 23.8% compared to the same quarter last year. As a group, analysts anticipate that Scorpio Tankers Inc. will post 8.79 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, March 6th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. Scorpio Tankers’s payout ratio is currently 25.46%.

Institutional Trading of Scorpio Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of STNG. SBI Securities Co. Ltd. increased its stake in Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the period. Clearstead Advisors LLC increased its stake in Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares during the period. Root Financial Partners LLC increased its stake in Scorpio Tankers by 193.9% in the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock worth $39,000 after purchasing an additional 347 shares during the period. Global Retirement Partners LLC increased its stake in Scorpio Tankers by 1,645.2% in the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after purchasing an additional 510 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Scorpio Tankers in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.