Scorpio Tankers (NYSE:STNG) Hits New 1-Year High – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week high during trading on Wednesday . The company traded as high as $87.49 and last traded at $87.2710, with a volume of 127563 shares changing hands. The stock had previously closed at $85.73.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STNG shares. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price target on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Evercore reaffirmed an “outperform” rating and issued a $94.00 price objective on shares of Scorpio Tankers in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Bank of America reiterated an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Finally, Morgan Stanley set a $86.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 18th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and an average price target of $90.14.

Scorpio Tankers Stock Up 1.6%

The stock has a market cap of $4.39 billion, a PE ratio of 5.44 and a beta of -0.22. The business has a 50 day moving average price of $78.85 and a 200 day moving average price of $77.39. The company has a quick ratio of 6.89, a current ratio of 6.93 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, beating the consensus estimate of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The company had revenue of $408.73 million during the quarter, compared to analysts’ expectations of $398.25 million. During the same period last year, the business earned $1.41 earnings per share. Scorpio Tankers’s quarterly revenue was up 77.5% on a year-over-year basis. Equities research analysts expect that Scorpio Tankers Inc. will post 11.21 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.24%.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in Scorpio Tankers by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock valued at $233,544,000 after buying an additional 122,874 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Scorpio Tankers by 7.6% in the first quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock worth $68,555,000 after acquiring an additional 64,511 shares during the period. Bank of America Corp DE raised its position in shares of Scorpio Tankers by 9.3% in the first quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock worth $18,244,000 after acquiring an additional 20,878 shares during the period. Empowered Funds LLC boosted its stake in shares of Scorpio Tankers by 20.9% during the 1st quarter. Empowered Funds LLC now owns 240,545 shares of the shipping company’s stock worth $17,959,000 after acquiring an additional 41,516 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Scorpio Tankers by 9.8% during the 1st quarter. Bank of New York Mellon Corp now owns 132,975 shares of the shipping company’s stock worth $9,928,000 after acquiring an additional 11,829 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.