Scorpio Tankers (NYSE:STNG) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Scorpio Tankers (NYSE:STNG) from a buy rating to a strong-buy rating in a research note released on Saturday morning.

Several other analysts have also issued reports on the company. Jefferies Financial Group began coverage on Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 target price for the company. BTIG Research upped their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Dnb Carnegie lowered Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 12th. Finally, Zacks Research raised Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $93.17.

Scorpio Tankers Trading Down 0.4%

Shares of STNG opened at $84.36 on Friday. The company has a quick ratio of 9.23, a current ratio of 13.98 and a debt-to-equity ratio of 0.16. The business’s 50-day moving average price is $75.54 and its 200-day moving average price is $65.12. The stock has a market cap of $4.25 billion, a PE ratio of 8.29 and a beta of -0.24. Scorpio Tankers has a twelve month low of $37.96 and a twelve month high of $87.39.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, May 5th. The shipping company reported $3.02 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.23. The company had revenue of $312.86 million for the quarter, compared to analysts’ expectations of $286.81 million. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. Scorpio Tankers’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 earnings per share. On average, equities analysts forecast that Scorpio Tankers will post 11.44 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Friday, May 29th. Scorpio Tankers’s dividend payout ratio is 17.70%.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. boosted its stake in shares of Scorpio Tankers by 110.3% during 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 during the period. Global Retirement Partners LLC boosted its stake in shares of Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 510 shares during the period. Clearstead Advisors LLC raised its holdings in shares of Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 205 shares in the last quarter. Assetmark Inc. bought a new position in shares of Scorpio Tankers during the first quarter valued at approximately $28,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Scorpio Tankers during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Trending Headlines about Scorpio Tankers

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Bank of America upgraded Scorpio Tankers to Buy and raised its price target to $100, citing expectations that tanker rates will remain elevated. Read More
• Positive Sentiment: BTIG increased its price target on Scorpio Tankers to $100, reinforcing a more bullish Wall Street outlook. Read More
• Positive Sentiment: Zacks said Scorpio Tankers is showing strong momentum characteristics and could continue higher as earnings estimates have been revised upward. Article Title
• Positive Sentiment: The stock was also added to Zacks’ Rank #1 Strong Buy momentum and income stock lists, which may attract additional investor interest. Article Title
• Neutral Sentiment: Scorpio Tankers announced a reopening of its 1.75% convertible notes due 2031, increasing the offering to $200 million from $150 million, while also planning to repurchase about 649,427 shares. The buyback could help offset dilution, but the new notes add leverage and potential future share issuance. Article Title

Scorpio Tankers Company Profile

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.