Scorpio Tankers (NYSE:STNG) Reaches New 12-Month High at $29.57

Scorpio Tankers Inc. (NYSE:STNG) shares hit a new 52-week high during trading on Friday . The stock traded as high as $29.57 and last traded at $29.52, with a volume of 1346911 shares traded. The stock had previously closed at $27.16.

Several analysts recently commented on STNG shares. Zacks Investment Research upgraded Scorpio Tankers from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, June 19th. B. Riley upgraded Scorpio Tankers from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $22.00 to $25.00 in a research report on Monday, March 4th. ValuEngine upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Jefferies Financial Group set a $40.00 price target on Scorpio Tankers and gave the stock a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. upgraded Scorpio Tankers from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $34.00 in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $32.78.

The business has a 50 day simple moving average of $26.35. The company has a quick ratio of 1.46, a current ratio of 1.48 and a debt-to-equity ratio of 1.34.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.18. The company had revenue of $195.83 million for the quarter, compared to analyst estimates of $186.60 million. Scorpio Tankers had a negative return on equity of 6.54% and a negative net margin of 23.03%. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.02) earnings per share. On average, research analysts anticipate that Scorpio Tankers Inc. will post -0.01 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Wednesday, June 5th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Tuesday, June 4th. Scorpio Tankers’s dividend payout ratio (DPR) is currently -8.77%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in Scorpio Tankers by 35.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock worth $28,000 after buying an additional 4,138 shares during the last quarter. Quantamental Technologies LLC acquired a new position in Scorpio Tankers during the first quarter worth $96,000. SG Americas Securities LLC acquired a new position in Scorpio Tankers during the first quarter worth $170,000. Prudential Financial Inc. boosted its stake in Scorpio Tankers by 53.1% during the fourth quarter. Prudential Financial Inc. now owns 29,072 shares of the shipping company’s stock worth $51,000 after buying an additional 10,080 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Scorpio Tankers during the first quarter worth $216,000. 55.31% of the stock is currently owned by institutional investors.

About Scorpio Tankers (NYSE:STNG)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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