Scorpio Tankers Inc. (NYSE:STNG) Plans Quarterly Dividend of $0.45

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Friday, March 6th will be paid a dividend of 0.45 per share by the shipping company on Friday, March 20th. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, March 6th. This is a 7.1% increase from Scorpio Tankers’s previous quarterly dividend of $0.42.

Scorpio Tankers has increased its dividend payment by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Scorpio Tankers has a payout ratio of 27.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $6.30 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 26.7%.

Scorpio Tankers Trading Down 2.9%

Shares of STNG stock traded down $2.03 on Thursday, reaching $67.86. 1,272,230 shares of the stock were exchanged, compared to its average volume of 1,084,491. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.46 billion, a P/E ratio of 11.48 and a beta of -0.25. The firm has a 50 day moving average of $57.02 and a two-hundred day moving average of $55.85. Scorpio Tankers has a 1-year low of $30.63 and a 1-year high of $71.48.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.32. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, research analysts anticipate that Scorpio Tankers will post 5.29 EPS for the current year.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marex Group plc bought a new stake in shares of Scorpio Tankers in the second quarter worth $901,000. Federated Hermes Inc. grew its holdings in Scorpio Tankers by 234.1% during the 3rd quarter. Federated Hermes Inc. now owns 38,524 shares of the shipping company’s stock worth $2,159,000 after acquiring an additional 26,994 shares in the last quarter. Moody Aldrich Partners LLC grew its holdings in Scorpio Tankers by 84.5% during the 3rd quarter. Moody Aldrich Partners LLC now owns 120,862 shares of the shipping company’s stock worth $6,774,000 after acquiring an additional 55,360 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of Scorpio Tankers in the 3rd quarter worth about $2,242,000. Finally, Allworth Financial LP raised its stake in shares of Scorpio Tankers by 1,954.8% in the 2nd quarter. Allworth Financial LP now owns 10,870 shares of the shipping company’s stock valued at $425,000 after purchasing an additional 10,341 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.