Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Declines By 19.0%

Scorpio Tankers Inc. (NYSE:STNG) saw a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 1,810,143 shares, a decline of 19.0% from the January 15th total of 2,233,782 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average trading volume of 801,599 shares, the days-to-cover ratio is currently 2.3 days. Based on an average trading volume of 801,599 shares, the days-to-cover ratio is currently 2.3 days. Approximately 3.8% of the company’s shares are short sold.

Scorpio Tankers Stock Down 0.6%

Shares of Scorpio Tankers stock opened at $70.10 on Wednesday. The firm has a market cap of $3.58 billion, a PE ratio of 9.92 and a beta of -0.25. The business’s 50 day simple moving average is $57.92 and its 200 day simple moving average is $56.52. 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 has a 52-week low of $30.63 and a 52-week high of $71.48.

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

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a dividend of $0.45 per share. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.80 annualized dividend and a dividend yield of 2.6%. Scorpio Tankers’s payout ratio is presently 25.46%.

Analyst Ratings Changes

STNG has been the subject of several analyst reports. BTIG Research lifted their price target on shares of Scorpio Tankers from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Zacks Research cut shares of Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research report on Friday. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Finally, Jefferies Financial Group restated a “buy” rating and set a $70.00 target price on shares of Scorpio Tankers in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.67.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. grew its position in shares of Scorpio Tankers by 110.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after acquiring an additional 246 shares during the period. Clearstead Advisors LLC increased its position in Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Global Retirement Partners LLC raised 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 valued at $27,000 after buying an additional 510 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Scorpio Tankers in the fourth quarter valued at approximately $29,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Scorpio Tankers in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

About Scorpio Tankers

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.