Scorpio Tankers (NYSE:STNG) Sees Large Volume Increase

Shares of Scorpio Tankers Inc. (NYSE:STNG) saw unusually-strong trading volume on Thursday . Approximately 89,495 shares traded hands during trading, a decline of 92% from the previous session’s volume of 1,155,971 shares.The stock last traded at $17.78 and had previously closed at $17.68.

A number of equities analysts have recently issued reports on STNG shares. Evercore ISI reissued a “buy” rating and set a $24.00 price target on shares of Scorpio Tankers in a research report on Sunday, August 8th. DNB Markets raised Scorpio Tankers from a “hold” rating to a “buy” rating and dropped their price objective for the company from $25.00 to $21.00 in a research report on Friday, August 6th. Zacks Investment Research raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $28.00 price objective on shares of Scorpio Tankers in a research report on Friday, July 23rd. Finally, Bank of America downgraded Scorpio Tankers from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $24.00 to $15.00 in a research report on Thursday, August 5th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $23.11.

The business has a 50 day simple moving average of $16.43 and a 200 day simple moving average of $18.55. The company has a quick ratio of 0.69, a current ratio of 0.71 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $988.16 million, a PE ratio of -4.53 and a beta of 1.10.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, August 5th. The shipping company reported ($0.94) EPS for the quarter, missing analysts’ consensus estimates of ($0.93) by ($0.01). Scorpio Tankers had a negative net margin of 35.92% and a negative return on equity of 9.07%. The business had revenue of $138.05 million during the quarter, compared to analysts’ expectations of $148.57 million. Equities analysts expect that Scorpio Tankers Inc. will post -3.06 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 29th. Stockholders of record on Thursday, September 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, September 8th. Scorpio Tankers’s payout ratio is 19.80%.

Several large investors have recently made changes to their positions in STNG. SOA Wealth Advisors LLC. purchased a new position in shares of Scorpio Tankers in the third quarter worth about $29,000. Toronto Dominion Bank purchased a new position in shares of Scorpio Tankers in the first quarter worth about $30,000. Meeder Asset Management Inc. raised its stake in shares of Scorpio Tankers by 302.8% in the second quarter. Meeder Asset Management Inc. now owns 3,037 shares of the shipping company’s stock worth $67,000 after purchasing an additional 2,283 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Scorpio Tankers in the second quarter worth about $88,000. Finally, Pinz Capital Management LP purchased a new position in shares of Scorpio Tankers in the first quarter worth about $133,000. Hedge funds and other institutional investors own 45.34% of the company’s stock.

About Scorpio Tankers (NYSE:STNG)

Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. It operates through the following segments: Handymax, MR, LR1/Panamax, and LR2/Aframax. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.

Further Reading: Why Invest in High-Yield Dividend Stocks?

Receive News & Ratings for Scorpio Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers and related companies with MarketBeat.com's FREE daily email newsletter.