Scorpio Tankers (NYSE:STNG) Given New $50.00 Price Target at B. Riley

Scorpio Tankers (NYSE:STNG – Get Rating) had its target price increased by B. Riley from $45.00 to $50.00 in a research note released on Friday, The Fly reports.

Several other research firms have also commented on STNG. Jefferies Financial Group reiterated a maintains rating on shares of Scorpio Tankers in a research note on Thursday, July 28th. Stifel Nicolaus boosted their price objective on Scorpio Tankers from $39.00 to $43.00 in a research note on Tuesday, July 19th. BTIG Research reiterated a maintains rating on shares of Scorpio Tankers in a research note on Friday. Clarkson Capital reiterated a buy rating on shares of Scorpio Tankers in a research note on Tuesday, June 14th. Finally, HC Wainwright boosted their target price on Scorpio Tankers from $28.00 to $38.00 in a report on Friday, April 29th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $34.06.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $40.26 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 1.08. Scorpio Tankers has a twelve month low of $11.02 and a twelve month high of $42.01. The business has a 50-day moving average price of $35.37 and a 200 day moving average price of $25.22. The firm has a market cap of $2.35 billion, a PE ratio of -63.90 and a beta of 0.51.

Scorpio Tankers (NYSE:STNG – Get Rating) last announced its quarterly earnings results on Thursday, July 28th. The shipping company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $2.85 by $0.28. Scorpio Tankers had a positive return on equity of 3.37% and a negative net margin of 1.49%. The firm had revenue of $405.80 million during the quarter, compared to analyst estimates of $333.11 million. During the same quarter in the previous year, the business earned ($0.94) EPS. Scorpio Tankers’s revenue for the quarter was up 191.1% compared to the same quarter last year. Sell-side analysts predict that Scorpio Tankers will post 4.05 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 11th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Wednesday, August 10th. Scorpio Tankers’s dividend payout ratio is presently -63.49%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in Scorpio Tankers by 38.7% in the second quarter. US Bancorp DE now owns 1,082 shares of the shipping company’s stock valued at $37,000 after acquiring an additional 302 shares during the last quarter. Ellevest Inc. lifted its holdings in Scorpio Tankers by 108.6% in the second quarter. Ellevest Inc. now owns 1,882 shares of the shipping company’s stock valued at $65,000 after acquiring an additional 980 shares during the last quarter. Amalgamated Bank acquired a new position in Scorpio Tankers in the first quarter valued at approximately $126,000. ProShare Advisors LLC acquired a new position in Scorpio Tankers in the fourth quarter valued at approximately $136,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in Scorpio Tankers in the fourth quarter valued at approximately $145,000. 42.80% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Company Profile

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Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.