Scorpio Tankers (NYSE:STNG) Stock Price Up 5.1%

Scorpio Tankers Inc. (NYSE:STNG) rose 5.1% on Wednesday . The stock traded as high as $28.24 and last traded at $27.83. Approximately 731,766 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 823,499 shares. The stock had previously closed at $26.49.

STNG has been the topic of several recent research reports. ValuEngine raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. B. Riley raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and raised their price target for the company from $22.00 to $25.00 in a research report on Monday, March 4th. JPMorgan Chase & Co. raised shares of Scorpio Tankers from a “neutral” rating to an “overweight” rating and raised their price target for the company from $29.00 to $34.00 in a research report on Thursday, May 16th. Finally, Zacks Investment Research cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Saturday, April 20th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $31.88.

The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.46 and a current ratio of 1.48. The stock has a market cap of $1.36 billion, a PE ratio of -6.10 and a beta of 1.04. The business’s 50 day moving average price is $26.30.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, May 2nd. The shipping company reported $0.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.18. The firm had revenue of $195.83 million during the quarter, compared to analyst estimates of $186.60 million. Scorpio Tankers had a negative net margin of 23.03% and a negative return on equity of 6.54%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the business posted ($1.02) EPS. Analysts forecast that Scorpio Tankers Inc. will post -0.01 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Wednesday, June 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.40 annualized dividend and a yield of 1.44%. Scorpio Tankers’s dividend payout ratio (DPR) is -8.77%.

A number of large investors have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. increased its stake in Scorpio Tankers by 35.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 15,728 shares of the shipping company’s stock valued at $28,000 after buying an additional 4,138 shares during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $96,000. SG Americas Securities LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $170,000. Prudential Financial Inc. increased its stake in shares of Scorpio Tankers by 53.1% during the 4th quarter. Prudential Financial Inc. now owns 29,072 shares of the shipping company’s stock worth $51,000 after purchasing an additional 10,080 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $216,000. Hedge funds and other institutional investors own 55.31% of the company’s stock.

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.

Further Reading: What is the Beige Book?

Receive News & Ratings for Scorpio Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers and related companies with MarketBeat.com's FREE daily email newsletter.