Scorpio Tankers Inc. (NYSE:STNG) Short Interest Update

Scorpio Tankers Inc. (NYSE:STNG) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 2,340,000 shares, a drop of 19.9% from the January 15th total of 2,920,000 shares. Currently, 4.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 985,100 shares, the short-interest ratio is presently 2.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Scorpio Tankers during the third quarter valued at $28,000. GAMMA Investing LLC boosted its stake in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Lindbrook Capital LLC boosted its stake in shares of Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. Covestor Ltd boosted its stake in shares of Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 770 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares during the period. Institutional investors own 54.64% of the company’s stock.

Analyst Upgrades and Downgrades

STNG has been the topic of several recent analyst reports. Evercore ISI reduced their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday. Bank of America reduced their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus reduced their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Price Performance

STNG traded down $0.53 during trading hours on Friday, hitting $44.13. The company’s stock had a trading volume of 1,147,005 shares, compared to its average volume of 1,023,026. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 12 month low of $43.32 and a 12 month high of $84.67. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 3.16 and a beta of 0.08. The business’s 50-day moving average price is $49.33 and its 200-day moving average price is $59.71.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Sell-side analysts expect that Scorpio Tankers will post 9.88 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

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.