Scorpio Tankers (NYSE:STNG) Sets New 12-Month High – Here’s Why

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week high during mid-day trading on Monday . The company 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.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on STNG shares. BTIG Research raised their price objective on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $83.00 price target on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $79.67.

Scorpio Tankers Stock Up 1.5%

The company has a market capitalization of $4.11 billion, a P/E ratio of 11.24 and a beta of -0.31. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19. The firm has a fifty day simple moving average of $62.48 and a 200-day simple moving average of $58.54.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.25. The business had revenue of $252.65 million during the quarter, compared to analyst estimates of $238.93 million. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.Scorpio Tankers’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. On average, equities research analysts expect that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a dividend of $0.45 per share. The ex-dividend date is Friday, March 6th. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.3%. Scorpio Tankers’s dividend payout ratio (DPR) is 23.76%.

Hedge Funds Weigh In On Scorpio Tankers

A number of large investors have recently added to or reduced their stakes in STNG. SBI Securities Co. Ltd. lifted its holdings in shares of Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 246 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Scorpio Tankers by 1,645.2% during the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after purchasing an additional 510 shares during the last quarter. Clearstead Advisors LLC raised its stake in shares of Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares in the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Scorpio Tankers in the 4th quarter valued at approximately $29,000. Finally, Spire Wealth Management grew its stake in shares of Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after buying an additional 330 shares in the last quarter. 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.