5 Best Shipping Stocks that Pay Dividends

3. Scorpio Tankers Inc. (NYSE: STNG)

Dividend Yield: 1.79%
Number of Hedge Fund Holders: 20

Scorpio Tankers Inc. (NYSE: STNG) is a Monaco-based crude oil shipping company that was founded in 2009. It is ranked third on our list of 10 best shipping stocks that pay dividends. The shipping firm now operates a fleet of 131 product tankers that service blue-chip oil companies such as Chevron Corporation (NYSE: CVX), BP p.l.c. (NYSE: BP), Royal Dutch Shell plc (NYSE: RDS-A). Scorpio Tankers stock has returned 26% to investors over the past twelve months. Scorpio Tankers Inc. declared a quarterly dividend of $0.10 per share on May 6 payable to shareholders in June.

The company has a market cap of $1.3 billion. The company’s revenue in the first quarter of 2021 came in at $134 million. Scorpio Tankers Inc. earned $46.6 million in net income for the three months ended March 31, 2020, or $0.85 basic and $0.82 diluted earnings per share. The company had $280.1 million in unrestricted cash and cash equivalents as of May 6, 2021. Scorpio Tankers Inc (NYSE: STNG) was given a Buy rating by HC Wainwright & Co. on March 29 with a target price of $28 per share. Shares of STNG jumped 52% in the last three months. The current stock performance of Scorpio Tankers Inc. shows a 52-week-range of $8.28 – $23.37.

At the end of the first quarter of 2021, 20 hedge funds in the database of Insider Monkey held stakes worth $88 million in Scorpio Tankers Inc. (NYSE: STNG), up from 18 in the preceding quarter worth $44 million.