Scorpio Tankers Inc. (STNG) To Go Ex-Dividend on August 13th

Scorpio Tankers Inc. (NYSE:STNG) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Shareholders of record on Wednesday, August 13th will be given a dividend of 0.40 per share by the shipping company on Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 13th.

Scorpio Tankers has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $6.30 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 25.4%.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $47.05 on Friday. Scorpio Tankers has a fifty-two week low of $30.63 and a fifty-two week high of $75.69. The company has a debt-to-equity ratio of 0.28, a quick ratio of 4.12 and a current ratio of 4.95. The stock has a market cap of $2.40 billion, a P/E ratio of 6.41 and a beta of -0.03. The firm’s fifty day moving average price is $42.39 and its 200-day moving average price is $41.54.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, July 30th. The shipping company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.38. Scorpio Tankers had a return on equity of 8.08% and a net margin of 39.18%. The business had revenue of $222.76 million for the quarter, compared to the consensus estimate of $219.26 million. During the same quarter last year, the business posted $3.60 earnings per share. The company’s revenue for the quarter was down 39.5% on a year-over-year basis. On average, equities research analysts expect that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently made changes to their positions in STNG. Norges Bank bought a new stake in Scorpio Tankers during the 4th quarter valued at $30,374,000. Rhumbline Advisers raised its stake in shares of Scorpio Tankers by 10.7% during the first quarter. Rhumbline Advisers now owns 84,174 shares of the shipping company’s stock valued at $3,163,000 after acquiring an additional 8,170 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth about $684,000. Allspring Global Investments Holdings LLC grew its stake in shares of Scorpio Tankers by 24.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,114 shares of the shipping company’s stock worth $576,000 after purchasing an additional 2,971 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Scorpio Tankers by 78.0% during the 1st quarter. Victory Capital Management Inc. now owns 253,966 shares of the shipping company’s stock valued at $9,544,000 after purchasing an additional 111,270 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.