Scorpio Tankers (NYSE:STNG) Shares Up 4.7% – Still a Buy?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price traded up 4.7% during mid-day trading on Friday . The stock traded as high as $59.99 and last traded at $59.7630. 111,776 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 1,130,208 shares. The stock had previously closed at $57.09.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on STNG shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Zacks Research lowered Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. BTIG Research reissued a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Monday, January 12th. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Finally, Evercore ISI set a $80.00 price objective on Scorpio Tankers and gave the stock an “outperform” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Scorpio Tankers has a consensus rating of “Hold” and an average price target of $70.17.

Scorpio Tankers Stock Performance

The firm has a market capitalization of $3.01 billion, a PE ratio of 9.99 and a beta of -0.27. The company has a current ratio of 4.81, a quick ratio of 4.75 and a debt-to-equity ratio of 0.25. The business’s 50 day simple moving average is $55.40 and its two-hundred day simple moving average is $53.72.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.39 by $0.10. The firm had revenue of $232.92 million during the quarter, compared to analyst estimates of $228.09 million. Scorpio Tankers had a net margin of 32.01% and a return on equity of 7.42%. The business’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.75 EPS. Research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.8%. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date was Friday, November 14th. Scorpio Tankers’s dividend payout ratio is 28.43%.

Hedge Funds Weigh In On Scorpio Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Scorpio Tankers by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares during the period. Intech Investment Management LLC boosted its position in Scorpio Tankers by 9.4% during the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after purchasing an additional 2,802 shares in the last quarter. Parallel Advisors LLC lifted its position in Scorpio Tankers by 629.8% during the second quarter. Parallel Advisors LLC now owns 1,934 shares of the shipping company’s stock valued at $76,000 after acquiring an additional 1,669 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Scorpio Tankers in the 2nd quarter worth $920,000. Finally, GAMMA Investing LLC raised its stake in Scorpio Tankers by 206.1% in the second quarter. GAMMA Investing LLC now owns 854 shares of the shipping company’s stock valued at $33,000 after buying an additional 575 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

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.