Scorpio Tankers (NYSE:STNG) Sets New 52-Week High – Time to Buy?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $87.49 and last traded at $87.2710, with a volume of 127563 shares trading hands. The stock had previously closed at $85.73.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on STNG. Wall Street Zen lowered Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday. Jefferies Financial Group restated a “buy” rating and set a $100.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Evercore reissued an “outperform” rating and issued a $94.00 price target on shares of Scorpio Tankers in a report on Wednesday, July 22nd. Finally, Morgan Stanley set a $86.00 target price on shares of Scorpio Tankers in a research report on Tuesday, August 18th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.14.

Scorpio Tankers Trading Up 2.6%

The business has a 50 day moving average of $79.24 and a 200-day moving average of $77.51. The stock has a market cap of $4.43 billion, a PE ratio of 5.49 and a beta of -0.22. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, topping the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The company had revenue of $408.73 million during the quarter, compared to the consensus estimate of $398.25 million. During the same quarter last year, the business posted $1.41 earnings per share. Scorpio Tankers’s revenue was up 77.5% compared to the same quarter last year. On average, analysts anticipate that Scorpio Tankers Inc. will post 11.21 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, August 17th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.24%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in shares of Scorpio Tankers by 13.8% in the first quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company’s stock valued at $159,000 after buying an additional 257 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Scorpio Tankers by 2.4% in the 4th quarter. Allworth Financial LP now owns 11,257 shares of the shipping company’s stock worth $572,000 after acquiring an additional 261 shares during the last quarter. Root Financial Partners LLC grew its holdings in shares of Scorpio Tankers by 193.9% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock worth $39,000 after acquiring an additional 347 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Scorpio Tankers by 12.2% during the first quarter. EverSource Wealth Advisors LLC now owns 3,218 shares of the shipping company’s stock worth $240,000 after purchasing an additional 350 shares during the period. Finally, Assetmark Inc. purchased a new stake in shares of Scorpio Tankers during the first quarter valued at $28,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.