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.
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.
ILLEGAL ACTIVITY WARNING: This story was first posted by Sports Perspectives and is owned by of Sports Perspectives. If you are viewing this story on another website, it was copied illegally and reposted in violation of U.S. and international copyright law. The original version of this story can be read at https://sportsperspectives.com/2017/12/20/scorpio-tankers-stng-shares-gap-up-to-3-17.html.
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).
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.