Scorpio Tankers Inc. (NYSE:STNG)’s share price was up 6.3% during mid-day trading on Tuesday . The stock traded as high as $3.20 and last traded at $3.19. Approximately 4,407,413 shares were traded during trading, an increase of 39% from the average daily volume of 3,180,201 shares. The stock had previously closed at $3.00.
A number of equities research analysts have commented on STNG shares. Jefferies Group restated a “buy” rating and set a $5.50 target price on shares of Scorpio Tankers in a research note on Tuesday, October 31st. Stifel Nicolaus set a $7.00 target price on shares of Scorpio Tankers and gave the stock a “buy” rating in a research note on Sunday, October 29th. Credit Suisse Group restated a “buy” rating and set a $7.00 target price on shares of Scorpio Tankers in a research note on Tuesday, September 19th. UBS upgraded shares of Scorpio Tankers from a “neutral” rating to a “buy” rating and set a $5.50 target price on the stock in a research note on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the stock. Scorpio Tankers currently has an average rating of “Buy” and an average price target of $6.33.
The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Wednesday, December 13th will be given a $0.01 dividend. The ex-dividend date is Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.25%. Scorpio Tankers’s dividend payout ratio is presently -5.06%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Scorpio Tankers by 5.5% in the third quarter. Dimensional Fund Advisors LP now owns 16,862,543 shares of the shipping company’s stock worth $57,839,000 after buying an additional 875,100 shares during the last quarter. Monarch Alternative Capital LP bought a new stake in shares of Scorpio Tankers during the third quarter worth $32,371,000. FMR LLC lifted its position in shares of Scorpio Tankers by 160.9% during the second quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock worth $29,710,000 after purchasing an additional 4,615,440 shares during the last quarter. Lasry Marc bought a new stake in shares of Scorpio Tankers during the third quarter worth $19,205,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Scorpio Tankers by 656.7% during the third quarter. Bank of New York Mellon Corp now owns 4,850,603 shares of the shipping company’s stock worth $16,637,000 after purchasing an additional 4,209,596 shares during the last quarter. Institutional investors own 59.06% of the company’s stock.
Scorpio Tankers Company Profile
Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).
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