Scorpio Tankers Inc. (STNG) to Issue $0.01 Quarterly Dividend
Scorpio Tankers Inc. (NASDAQ:STNG) declared a quarterly dividend on Thursday, September 14th, Wall Street Journal reports. Stockholders of record on Monday, September 25th will be paid a dividend of 0.01 per share by the shipping company on Friday, September 29th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Friday, September 22nd.
Shares of Scorpio Tankers (STNG) traded up 4.99% on Thursday, hitting $3.58. The stock had a trading volume of 2,643,958 shares. Scorpio Tankers has a one year low of $3.20 and a one year high of $5.01. The firm’s 50 day moving average is $3.61 and its 200-day moving average is $3.93. The stock’s market capitalization is $582.51 million.
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A number of analysts have recently commented on STNG shares. Jefferies Group LLC restated a “buy” rating and issued a $6.00 price target on shares of Scorpio Tankers in a report on Thursday, May 25th. Credit Suisse Group set a $7.00 price target on Scorpio Tankers and gave the company a “buy” rating in a report on Wednesday, May 24th. Stifel Nicolaus restated a “buy” rating and issued a $8.00 price target on shares of Scorpio Tankers in a report on Thursday, May 25th. Seaport Global Securities restated a “buy” rating and issued a $7.50 price target on shares of Scorpio Tankers in a report on Thursday, May 25th. Finally, BidaskClub lowered Scorpio Tankers from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Scorpio Tankers currently has an average rating of “Buy” and a consensus target price of $6.44.
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).
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