Scorpio Tankers (NYSE:STNG) Price Target Raised to $110.00

Scorpio Tankers (NYSE:STNG) had its price target lifted by BTIG Research from $100.00 to $110.00 in a research note published on Friday, Marketbeat.com reports. The brokerage currently has a buy rating on the shipping company’s stock.

STNG has been the topic of several other reports. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Wall Street Zen lowered Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Evercore restated an “outperform” rating and issued a $94.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Morgan Stanley set a $86.00 price target on Scorpio Tankers in a report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, September 14th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.57.

Scorpio Tankers Stock Down 0.1%

Shares of Scorpio Tankers stock opened at $87.07 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.89 and a current ratio of 6.93. The stock has a market capitalization of $4.39 billion, a PE ratio of 5.44 and a beta of -0.22. Scorpio Tankers has a 52-week low of $48.93 and a 52-week high of $90.06. The company has a 50-day simple moving average of $79.40 and a two-hundred day simple moving average of $77.57.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.12. The firm had revenue of $408.73 million for 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 business’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. On average, analysts anticipate that Scorpio Tankers will post 11.21 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, August 17th. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. Scorpio Tankers’s dividend payout ratio is 11.24%.

Insider Activity at Scorpio Tankers

In other Scorpio Tankers news, COO Cameron Mackey sold 125,000 shares of Scorpio Tankers stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $89.03, for a total value of $11,128,750.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Auste Adelborg sold 6,834 shares of the business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $89.64, for a total transaction of $612,599.76. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 420,133 shares of company stock worth $36,611,311. Company insiders own 7.34% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Assetmark Inc. purchased a new position in shares of Scorpio Tankers during the 1st quarter worth $28,000. Root Financial Partners LLC increased its stake in shares of Scorpio Tankers by 193.9% in the 1st quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock worth $39,000 after purchasing an additional 347 shares in the last quarter. Pinnacle Holdings LLC bought a new position in Scorpio Tankers in the 2nd quarter worth $48,000. Leonteq Securities AG bought a new position in Scorpio Tankers in the 4th quarter worth $75,000. Finally, Public Employees Retirement System of Ohio purchased a new position in Scorpio Tankers during the second quarter valued at $92,000. 54.64% of the stock is currently owned by institutional investors.

Key Scorpio Tankers News

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

• Positive Sentiment: BTIG’s higher price target gives investors a stronger bullish valuation signal, particularly as STNG trades near its 12-month high and has recently reported strong earnings growth. Benzinga coverage
• Neutral Sentiment: A broader article highlights shipping stocks with dividend yields as high as 9% but cautions that contract structures, balance sheets and payout histories vary widely. The discussion may increase attention on shipping dividends, but it does not provide a specific new catalyst for STNG. Shipping stock dividend article
• Negative Sentiment: Several insiders reported sizable share sales totaling roughly $36.6 million. President Robert Bugbee sold 231,799 shares, CFO Christopher Avella sold 56,500, COO Cameron Mackey sold 125,000, and insider Auste Adelborg sold 6,834 shares. The executives retained substantial holdings, and insider sales can reflect diversification or planned liquidity needs, but the concentration of selling may weigh on sentiment because it reduces insiders’ positions.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.

Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.

The company was established in 2009 and is headquartered in Monaco.