Scorpio Tankers Inc. (NYSE:STNG) Stock Has Average Price Target of $92.14 According to Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been assigned a consensus rating of “Hold” from the eleven analysts that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $92.14.

STNG has been the topic of a number of research analyst reports. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Morgan Stanley lifted their price target on Scorpio Tankers from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $100.00 price target on shares of Scorpio Tankers in a research note on Tuesday, August 4th. BTIG Research upped their price objective on Scorpio Tankers from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, Evercore reiterated an “outperform” rating and set a $94.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, July 22nd.

Scorpio Tankers Price Performance

STNG opened at $80.87 on Wednesday. The firm has a 50-day moving average price of $82.37 and a 200-day moving average price of $79.32. Scorpio Tankers has a twelve month low of $48.93 and a twelve month high of $90.06. The company has a quick ratio of 6.89, a current ratio of 6.93 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 5.05 and a beta of -0.17.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, beating analysts’ consensus estimates of $4.56 by $0.12. The business had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%. The company’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.41 EPS. Equities analysts expect that Scorpio Tankers will post 11.28 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, August 17th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.24%.

Insider Activity

In other news, insider Auste Adelborg sold 6,834 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $89.64, for a total value of $612,599.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher Avella sold 56,500 shares of the firm’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $86.57, for a total transaction of $4,891,205.00. Following the completion of the sale, the chief financial officer owned 178,834 shares of the company’s stock, valued at $15,481,659.38. This trade represents a 24.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 420,133 shares of company stock worth $36,611,311. 7.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently made changes to their positions in STNG. Farther Finance Advisors LLC grew its stake in shares of Scorpio Tankers by 35.0% in the third quarter. Farther Finance Advisors LLC now owns 579 shares of the shipping company’s stock worth $48,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Scorpio Tankers by 14.8% during the third quarter. GAMMA Investing LLC now owns 1,427 shares of the shipping company’s stock valued at $119,000 after acquiring an additional 184 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Scorpio Tankers by 13.8% during the first quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company’s stock valued at $159,000 after acquiring an additional 257 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in shares of Scorpio Tankers by 9.5% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 3,014 shares of the shipping company’s stock worth $266,000 after purchasing an additional 261 shares during the last quarter. Finally, Krilogy Financial LLC raised its position in shares of Scorpio Tankers by 7.8% in the 3rd quarter. Krilogy Financial LLC now owns 3,857 shares of the shipping company’s stock worth $337,000 after purchasing an additional 278 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as petrochemical feedstocks and other liquid products.

Its fleet has historically included medium-range, handymax and long-range product tankers, allowing Scorpio Tankers to serve both regional and long-haul trade routes. The company’s vessels transport cargoes between major refining, storage and consumption centers across international markets, supporting energy companies, commodity traders and other commercial customers.

Scorpio Tankers was established in 2009 and is incorporated in the Marshall Islands, with corporate operations based in Monaco.