Scorpio Tankers (NYSE:STNG) Stock Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Scorpio Tankers shares moved above their 50-day moving average, reaching $81.00 before closing at $79.43, compared with a 50-day average of $77.03.
• The company reported quarterly EPS of $4.68, exceeding estimates of $4.56, while revenue rose 77.5% year over year to $408.73 million. Analysts’ consensus rating remains “Hold,” with an average price target of $90.14.
• Scorpio Tankers declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 2.3% yield; institutional investors own 54.64% of the stock.

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $77.03 and traded as high as $81.00. Scorpio Tankers shares last traded at $79.43, with a volume of 633,067 shares trading hands.

Wall Street Analyst Weigh In

STNG has been the subject of several recent research reports. Wall Street Zen cut shares of Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, July 14th. BTIG Research upped their price objective on Scorpio Tankers from $85.00 to $100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Weiss Ratings reiterated a "hold (c)" rating on shares of Scorpio Tankers in a research note on Thursday, June 18th. Zacks Research cut Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 30th. Finally, Evercore reissued an "outperform" rating and set a $94.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $90.14.

Scorpio Tankers Trading Down 1.1%

The firm has a market capitalization of $4.00 billion, a PE ratio of 4.96 and a beta of -0.22. The company's 50-day moving average price is $77.03 and its 200-day moving average price is $75.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.89 and a current ratio of 6.93.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its earnings results on Thursday, July 30th. The shipping company reported $4.68 EPS for the quarter, topping analysts' consensus estimates of $4.56 by $0.12. The firm had revenue of $408.73 million during the quarter, compared to the consensus estimate of $398.25 million. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The company's revenue was up 77.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 earnings per share. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 11.1 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, August 17th. Scorpio Tankers's dividend payout ratio is currently 11.24%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STNG. Merewether Investment Management LP purchased a new position in Scorpio Tankers during the 3rd quarter worth approximately $38,471,000. Arrowstreet Capital Limited Partnership lifted its stake in Scorpio Tankers by 68.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company's stock valued at $45,179,000 after buying an additional 326,973 shares during the last quarter. AQR Capital Management LLC lifted its stake in Scorpio Tankers by 91.9% in the second quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company's stock valued at $25,148,000 after buying an additional 307,815 shares during the last quarter. Credit Agricole S A purchased a new stake in Scorpio Tankers in the third quarter valued at approximately $16,703,000. Finally, Ticino Wealth acquired a new stake in shares of Scorpio Tankers in the fourth quarter valued at approximately $9,526,000. Hedge funds and other institutional investors own 54.64% of the company's stock.

About Scorpio Tankers

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.

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