Scorpio Tankers (NYSE:STNG) Sets New 52-Week High – Should You Buy?

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $73.59 and last traded at $72.9750, with a volume of 406964 shares traded. The stock had previously closed at $71.80.

Analyst Ratings Changes

STNG has been the subject of several recent research reports. Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $83.00 target price on shares of Scorpio Tankers in a report on Friday, February 13th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $70.00 price target on shares of Scorpio Tankers in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.67.

Scorpio Tankers Stock Up 2.1%

The company has a 50-day moving average of $59.41 and a 200-day moving average of $57.19. The company has a current ratio of 9.33, a quick ratio of 9.23 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 10.37 and a beta of -0.25.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The business had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The company’s revenue was up 23.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be issued a $0.45 dividend. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, March 6th. Scorpio Tankers’s dividend payout ratio is 25.46%.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Scorpio Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after acquiring an additional 1,144 shares during the period. Intech Investment Management LLC grew its position in Scorpio Tankers by 9.4% during the 1st quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after purchasing an additional 2,802 shares during the period. Focus Partners Advisor Solutions LLC purchased a new position in shares of Scorpio Tankers during the 2nd quarter valued at about $227,000. Spire Wealth Management lifted its holdings in shares of Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after buying an additional 330 shares during the period. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Scorpio Tankers by 61.7% in the second quarter. Moody Aldrich Partners LLC now owns 65,502 shares of the shipping company’s stock worth $2,563,000 after buying an additional 25,000 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

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.