Scorpio Tankers (NYSE:STNG) Reaches New 12-Month High – Here’s What Happened

Shares of Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week high on Monday . The stock traded as high as $81.85 and last traded at $77.8770, with a volume of 447548 shares trading hands. The stock had previously closed at $79.08.

Wall Street Analysts Forecast Growth

STNG has been the topic of several analyst reports. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. Zacks Research upgraded shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. Moffett Nathanson upgraded shares of Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Trading Down 0.6%

The business has a 50 day moving average of $61.37 and a two-hundred day moving average of $58.06. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 11.12 and a beta of -0.25. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The company had revenue of $252.65 million for the quarter, compared to analysts’ expectations of $238.93 million. During the same period last year, the business earned $0.63 EPS. Scorpio Tankers’s quarterly revenue was up 23.8% compared to the same quarter last year. Equities analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. Scorpio Tankers’s payout ratio is presently 25.46%.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Scorpio Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock valued at $996,000 after purchasing an additional 1,144 shares in the last quarter. Intech Investment Management LLC raised its position in Scorpio Tankers by 9.4% in the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after buying an additional 2,802 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new position in Scorpio Tankers during the 2nd quarter valued at $227,000. Spire Wealth Management boosted its holdings in Scorpio Tankers by 77.1% during the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after acquiring an additional 330 shares during the last quarter. Finally, Savant Capital LLC grew its stake in shares of Scorpio Tankers by 34.6% in the 2nd quarter. Savant Capital LLC now owns 14,178 shares of the shipping company’s stock worth $555,000 after acquiring an additional 3,641 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

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.