Scorpio Tankers (STNG) Research Coverage Started at Jefferies Group
Jefferies Group assumed coverage on shares of Scorpio Tankers (NYSE:STNG) in a research report released on Monday. The brokerage issued a buy rating and a $5.00 price objective on the shipping company’s stock. Jefferies Group also issued estimates for Scorpio Tankers’ Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.34) EPS and FY2018 earnings at $0.52 EPS.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus dropped their price objective on Scorpio Tankers from $7.00 to $6.00 and set a buy rating on the stock in a report on Wednesday, November 29th. Credit Suisse Group restated a buy rating and issued a $7.00 target price on shares of Scorpio Tankers in a research note on Tuesday, September 19th. UBS upgraded 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. Zacks Investment Research upgraded Scorpio Tankers from a sell rating to a hold rating in a research note on Thursday, November 9th. Finally, Morgan Stanley decreased their target price on Scorpio Tankers from $5.50 to $5.00 and set an overweight rating on the stock in a research note on Friday, November 17th. Two research analysts have rated the stock with a sell rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and an average target price of $6.28.
Shares of Scorpio Tankers (NYSE:STNG) opened at $3.24 on Monday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.03 and a quick ratio of 0.99. Scorpio Tankers has a 1-year low of $2.99 and a 1-year high of $4.93.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th will be paid 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 1.23%. Scorpio Tankers’s dividend payout ratio is currently -5.06%.
Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Scorpio Tankers by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock valued at $108,000 after purchasing an additional 1,316 shares during the last quarter. MML Investors Services LLC increased its position in shares of Scorpio Tankers by 137.2% during the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock valued at $146,000 after purchasing an additional 21,250 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of Scorpio Tankers during the 2nd quarter valued at about $154,000. BlueCrest Capital Management Ltd increased its position in shares of Scorpio Tankers by 498.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 70,897 shares of the shipping company’s stock valued at $281,000 after purchasing an additional 59,048 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Scorpio Tankers by 66.2% during the 3rd quarter. Legal & General Group Plc now owns 85,648 shares of the shipping company’s stock valued at $296,000 after purchasing an additional 34,129 shares during the last quarter. Hedge funds and other institutional investors own 59.04% of the company’s stock.
About Scorpio Tankers
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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