ValuEngine Lowers Scorpio Tankers (STNG) to Strong Sell
ValuEngine lowered shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a strong sell rating in a research report released on Sunday.
A number of other research firms have also weighed in on STNG. Zacks Investment Research lowered shares of Scorpio Tankers from a hold rating to a sell rating in a research report on Saturday, October 21st. Stifel Nicolaus set a $7.00 target price on shares of Scorpio Tankers and gave the stock a buy rating in a research report on Sunday, October 29th. Jefferies Group reissued a buy rating and set a $5.50 target price on shares of Scorpio Tankers in a research report on Tuesday, October 31st. BidaskClub lowered shares of Scorpio Tankers from a sell rating to a strong sell rating in a research report on Friday, October 27th. Finally, UBS Group raised shares of Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 target price for the company in a research report on Monday, November 13th. Three analysts have rated the stock with a sell rating and twelve have given a buy rating to the company. Scorpio Tankers currently has a consensus rating of Buy and an average target price of $6.28.
Shares of Scorpio Tankers (STNG) traded up $0.08 during trading hours on Friday, reaching $3.23. 3,519,676 shares of the company were exchanged, compared to its average volume of 3,001,592. The company has a market capitalization of $1,020.00, a PE ratio of -4.09 and a beta of 1.59. Scorpio Tankers has a 12-month low of $2.99 and a 12-month high of $4.93. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Wednesday, December 13th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date was Tuesday, December 12th. Scorpio Tankers’s dividend payout ratio is currently -5.06%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Scorpio Tankers by 5.5% during the third quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock valued at $57,839,000 after buying an additional 875,100 shares during the last quarter. Monarch Alternative Capital LP acquired a new position in shares of Scorpio Tankers during the third quarter valued at about $32,371,000. FMR LLC raised its position in shares of Scorpio Tankers by 160.9% during the second quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock valued at $29,710,000 after buying an additional 4,615,440 shares during the last quarter. Lasry Marc acquired a new position in shares of Scorpio Tankers during the third quarter valued at about $19,205,000. Finally, Bank of New York Mellon Corp raised its position in shares of Scorpio Tankers by 656.7% during the third quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock valued at $16,637,000 after buying an additional 4,209,596 shares during the last quarter. 59.04% of the stock is owned by institutional investors and hedge funds.
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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.