Scorpio Tankers (STNG) Shares Gap Up to $3.17

Scorpio Tankers Inc. (NYSE:STNG) gapped up before the market opened on Monday . The stock had previously closed at $3.09, but opened at $3.17. Scorpio Tankers shares last traded at $3.18, with a volume of 4702142 shares changing hands.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Jefferies Group assumed coverage on Scorpio Tankers in a research report on Monday. They issued a “buy” rating and a $5.00 target price for the company. Stifel Nicolaus decreased their target price on Scorpio Tankers from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 29th. Morgan Stanley cut their price target on Scorpio Tankers from $5.50 to $5.00 and set an “overweight” rating on the stock in a research note on Friday, November 17th. Finally, BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Two analysts have rated the stock with a sell rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $6.28.

The company has a quick ratio of 0.99, a current ratio of 1.03 and a debt-to-equity ratio of 1.59.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, November 16th. The shipping company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.04). The firm had revenue of $123.20 million for the quarter, compared to the consensus estimate of $129.54 million. Scorpio Tankers had a negative net margin of 31.12% and a negative return on equity of 6.47%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.11) earnings per share. analysts anticipate that Scorpio Tankers Inc. will post -0.39 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, December 12th. Scorpio Tankers’s payout ratio is currently -5.06%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Vitol Holding SARL boosted its stake in shares of Scorpio Tankers by 4,700.0% during the 3rd quarter. Vitol Holding SARL now owns 1,200,000 shares of the shipping company’s stock worth $4,116,000 after acquiring an additional 1,175,000 shares in the last quarter. Front Barnett Associates LLC purchased a new stake in shares of Scorpio Tankers in the second quarter valued at $1,583,000. Goldman Sachs Group Inc. raised its holdings in shares of Scorpio Tankers by 42.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,451,371 shares of the shipping company’s stock worth $5,762,000 after acquiring an additional 434,703 shares in the last quarter. Tricadia Capital Management LLC raised its holdings in shares of Scorpio Tankers by 5.3% during the second quarter. Tricadia Capital Management LLC now owns 2,961,414 shares of the shipping company’s stock worth $11,757,000 after acquiring an additional 150,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Scorpio Tankers by 58.4% during the first quarter. Geode Capital Management LLC now owns 433,147 shares of the shipping company’s stock worth $1,923,000 after acquiring an additional 159,649 shares in the last quarter. 59.04% of the stock is owned by hedge funds and other institutional investors.

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About Scorpio Tankers

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

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