Scorpio Tankers Inc. (NYSE:STNG) Stock Has Average Target Price of $91.57 According to Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $91.57.

A number of equities analysts have recently weighed in on STNG shares. Bank of America restated an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. BTIG Research upped their target price on Scorpio Tankers from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday, September 18th. Morgan Stanley set a $86.00 price target on Scorpio Tankers in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, September 14th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 4th.

Insiders Place Their Bets

In related news, insider Auste Adelborg sold 6,834 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $89.64, for a total transaction of $612,599.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Cameron Mackey sold 125,000 shares of the stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $89.03, for a total transaction of $11,128,750.00. Following the transaction, the chief operating officer owned 739,531 shares of the company’s stock, valued at approximately $65,840,444.93. The trade was a 14.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 420,133 shares of company stock valued at $36,611,311. 7.34% of the stock is currently owned by company insiders.

Institutional Trading of Scorpio Tankers

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in shares of Scorpio Tankers by 47.5% during the 1st quarter. Sei Investments Co. now owns 118,751 shares of the shipping company’s stock valued at $8,865,000 after acquiring an additional 38,216 shares during the period. Jennison Associates LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $1,161,000. Integrated Advisors Network LLC bought a new stake in shares of Scorpio Tankers in the 1st quarter worth approximately $2,527,000. Bank of America Corp DE raised its holdings in shares of Scorpio Tankers by 9.3% in the 1st quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock worth $18,244,000 after purchasing an additional 20,878 shares during the period. Finally, Navellier & Associates Inc. raised its holdings in shares of Scorpio Tankers by 141.7% in the 2nd quarter. Navellier & Associates Inc. now owns 38,960 shares of the shipping company’s stock worth $2,698,000 after purchasing an additional 22,839 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 0.3%

STNG opened at $86.02 on Friday. Scorpio Tankers has a fifty-two week low of $48.93 and a fifty-two week high of $90.06. The firm has a market capitalization of $4.34 billion, a P/E ratio of 5.37 and a beta of -0.17. The company’s 50-day moving average is $80.43 and its 200 day moving average is $78.15. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. The business had revenue of $408.73 million during the quarter, compared to the consensus estimate of $398.25 million. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The firm’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. Research analysts expect that Scorpio Tankers will post 11.01 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

About Scorpio Tankers

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

Its vessels serve international energy markets by carrying clean petroleum products between refineries, storage terminals and regional distribution centers. Scorpio Tankers operates across major global shipping routes and serves customers in the oil trading, refining and energy industries.

Founded in 2009, Scorpio Tankers became a publicly traded company on the New York Stock Exchange in 2010.