Scorpio Tankers (STNG) Shares Gap Up After Dividend Announcement

Scorpio Tankers (NYSE:STNG) shares gapped up prior to trading on Thursday after the company announced a dividend. The stock had previously closed at $2.80, but opened at $2.70. Scorpio Tankers shares last traded at $2.60, with a volume of 1676068 shares changing hands.

The newly announced dividend which will be paid on Thursday, June 28th. Shareholders of record on Wednesday, June 6th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Tuesday, June 5th. Scorpio Tankers’s dividend payout ratio (DPR) is presently -8.51%.

Several research analysts have commented on the stock. Morgan Stanley dropped their price objective on shares of Scorpio Tankers from $3.50 to $3.00 and set an “overweight” rating for the company in a report on Wednesday. DNB Markets raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Wednesday. ValuEngine downgraded shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a report on Tuesday, April 3rd. Finally, Deutsche Bank reaffirmed a “buy” rating on shares of Scorpio Tankers in a report on Tuesday, April 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Scorpio Tankers currently has a consensus rating of “Buy” and a consensus target price of $4.97.

The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.29 and a current ratio of 1.34. The company has a market capitalization of $773.82, a PE ratio of -5.53 and a beta of 1.39.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, April 25th. The shipping company reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.02). The company had revenue of $156.50 million for the quarter, compared to analysts’ expectations of $154.72 million. Scorpio Tankers had a negative return on equity of 6.73% and a negative net margin of 30.86%. The business’s revenue was up 27.4% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. equities analysts anticipate that Scorpio Tankers will post -0.04 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of Scorpio Tankers by 3.3% during the third quarter. Wells Fargo & Company MN now owns 576,751 shares of the shipping company’s stock worth $1,978,000 after acquiring an additional 18,693 shares during the period. OppenheimerFunds Inc. increased its position in shares of Scorpio Tankers by 35.0% during the fourth quarter. OppenheimerFunds Inc. now owns 83,215 shares of the shipping company’s stock worth $254,000 after acquiring an additional 21,562 shares during the period. California State Teachers Retirement System increased its position in shares of Scorpio Tankers by 9.6% during the fourth quarter. California State Teachers Retirement System now owns 377,205 shares of the shipping company’s stock worth $1,150,000 after acquiring an additional 33,062 shares during the period. Legal & General Group Plc increased its holdings in Scorpio Tankers by 66.2% during the third quarter. Legal & General Group Plc now owns 85,648 shares of the shipping company’s stock valued at $296,000 after buying an additional 34,129 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Scorpio Tankers by 14.9% during the fourth quarter. Geode Capital Management LLC now owns 499,423 shares of the shipping company’s stock valued at $1,523,000 after buying an additional 64,750 shares during the period. 64.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 22, 2018, its fleet consisted of 109 tankers, including 38 LR2, 12 LR1, 45 MR, and 14 Handymax tankers with an average age of approximately 2.6 years; and 20 time or bareboat chartered-in tankers, which include 2 LR2, 10 MR, and 8 Handymax tankers.

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