ValuEngine cut shares of Scorpio Tankers (NYSE:STNG) from a sell rating to a strong sell rating in a report released on Sunday, December 31st.
Several other research analysts have also recently issued reports on the stock. Jefferies Group initiated coverage on shares of Scorpio Tankers in a report on Monday, December 18th. They issued a buy rating and a $5.00 target price for the company. Stifel Nicolaus lowered their target price on shares of Scorpio Tankers from $7.00 to $6.00 and set a buy rating for the company 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 report on Tuesday, September 19th. UBS Group upgraded shares of Scorpio Tankers from a neutral rating to a buy rating and set a $5.50 price target for the company in a research report on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Scorpio Tankers from a sell rating to a hold rating in a research report on Thursday, November 9th. Three analysts have rated the stock with a sell rating and twelve have given a buy rating to the stock. Scorpio Tankers presently has an average rating of Buy and an average price target of $6.28.
Scorpio Tankers (NYSE STNG) opened at $3.23 on Friday. The company has a current ratio of 1.03, a quick ratio of 0.99 and a debt-to-equity ratio of 1.59. Scorpio Tankers has a twelve month low of $2.99 and a twelve month high of $4.79. The company has a market cap of $1,020.00, a P/E ratio of -4.09 and a beta of 1.59.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Wednesday, December 13th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, December 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.24%. Scorpio Tankers’s payout ratio is currently -5.06%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP increased its holdings in shares of Scorpio Tankers by 1,628.8% in the 3rd quarter. GSA Capital Partners LLP now owns 669,353 shares of the shipping company’s stock valued at $2,296,000 after purchasing an additional 630,636 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Scorpio Tankers by 2,287.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 293,141 shares of the shipping company’s stock valued at $1,005,000 after purchasing an additional 280,865 shares in the last quarter. Monarch Alternative Capital LP purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $32,371,000. Lasry Marc purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $19,205,000. Finally, Caxton Associates LP purchased a new position in shares of Scorpio Tankers in the 3rd quarter valued at about $343,000. Institutional investors and hedge funds own 59.04% of the company’s stock.
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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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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