Scorpio Tankers (NYSE:STNG) Reaches New 12-Month High at $54.13

Scorpio Tankers Inc. (NYSE:STNGGet Rating)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $54.13 and last traded at $53.39, with a volume of 2532 shares traded. The stock had previously closed at $53.08.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Tuesday, October 18th. Stifel Nicolaus lifted their price objective on shares of Scorpio Tankers from $43.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Scorpio Tankers from $47.00 to $52.00 in a report on Wednesday, November 2nd. TheStreet raised shares of Scorpio Tankers from a “c” rating to a “b-” rating in a report on Wednesday, November 2nd. Finally, B. Riley lifted their price objective on shares of Scorpio Tankers from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of “Moderate Buy” and a consensus target price of $49.71.

Scorpio Tankers Price Performance

The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $2.97 billion, a P/E ratio of 10.12, a PEG ratio of 0.11 and a beta of 0.50. The business has a 50 day simple moving average of $46.48 and a 200-day simple moving average of $40.01.

Scorpio Tankers (NYSE:STNGGet Rating) last posted its earnings results on Tuesday, November 1st. The shipping company reported $4.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.81 by $0.48. The company had revenue of $456.28 million for the quarter, compared to analysts’ expectations of $417.90 million. Scorpio Tankers had a return on equity of 21.04% and a net margin of 26.86%. Analysts predict that Scorpio Tankers Inc. will post 11.1 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Wednesday, November 16th. Scorpio Tankers’s payout ratio is 7.97%.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE raised its stake in shares of Scorpio Tankers by 38.7% during the second quarter. US Bancorp DE now owns 1,082 shares of the shipping company’s stock valued at $37,000 after purchasing an additional 302 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Scorpio Tankers by 3.1% during the second quarter. International Assets Investment Management LLC now owns 10,353 shares of the shipping company’s stock valued at $357,000 after purchasing an additional 308 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Scorpio Tankers by 3.6% during the first quarter. First Trust Advisors LP now owns 12,099 shares of the shipping company’s stock valued at $259,000 after purchasing an additional 418 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in shares of Scorpio Tankers during the second quarter valued at about $28,000. Finally, Balyasny Asset Management LLC raised its stake in shares of Scorpio Tankers by 12.0% during the third quarter. Balyasny Asset Management LLC now owns 7,550 shares of the shipping company’s stock valued at $317,000 after purchasing an additional 806 shares in the last quarter. 50.20% of the stock is currently owned by institutional investors.

About Scorpio Tankers

(Get Rating)

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.

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