Scorpio Tankers (NYSE:STNG) Shares Up 5.1%

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

A number of analysts have recently issued reports on STNG shares. Zacks Investment Research raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a report on Wednesday, June 19th. ValuEngine downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Thursday, May 9th. JPMorgan Chase & Co. raised shares of Scorpio Tankers from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $29.00 to $34.00 in a report on Thursday, May 16th. Finally, B. Riley raised shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $22.00 to $25.00 in a report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $31.88.

The company has a debt-to-equity ratio of 1.34, a current ratio of 1.48 and a quick ratio of 1.46. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -6.10 and a beta of 1.04. The business has a 50 day simple moving average of $26.30.

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

The firm also recently declared 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. This represents a $0.40 annualized dividend and a yield of 1.44%. The ex-dividend date is Tuesday, June 4th. Scorpio Tankers’s dividend payout ratio is presently -8.77%.

A number of institutional investors have recently bought and sold shares of STNG. Rhumbline Advisers raised its position in Scorpio Tankers by 105.0% in the 4th quarter. Rhumbline Advisers now owns 597,632 shares of the shipping company’s stock valued at $1,052,000 after purchasing an additional 306,147 shares during the last quarter. Prudential Financial Inc. raised its position in Scorpio Tankers by 53.1% in the 4th quarter. Prudential Financial Inc. now owns 29,072 shares of the shipping company’s stock valued at $51,000 after purchasing an additional 10,080 shares during the last quarter. California Public Employees Retirement System raised its position in Scorpio Tankers by 28.5% in the 4th quarter. California Public Employees Retirement System now owns 386,600 shares of the shipping company’s stock valued at $680,000 after purchasing an additional 85,800 shares during the last quarter. BlackRock Inc. raised its position in Scorpio Tankers by 53.8% in the 4th quarter. BlackRock Inc. now owns 22,545,814 shares of the shipping company’s stock valued at $39,682,000 after purchasing an additional 7,886,648 shares during the last quarter. Finally, Hosking Partners LLP raised its position in Scorpio Tankers by 22.8% in the 4th quarter. Hosking Partners LLP now owns 12,020,122 shares of the shipping company’s stock valued at $21,155,000 after purchasing an additional 2,233,997 shares during the last quarter. 55.31% of the stock is owned by institutional investors and hedge funds.

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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