Scorpio Tankers (NYSE:STNG) Sets New 1-Year Low – Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $37.07 and last traded at $37.53, with a volume of 66902 shares. The stock had previously closed at $38.10.

Analysts Set New Price Targets

STNG has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Stock Down 1.6 %

The business has a 50-day moving average of $42.76 and a 200 day moving average of $52.45. The company has a market capitalization of $1.87 billion, a PE ratio of 2.88 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers’s payout ratio is currently 12.27%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STNG. Mountaineer Partners Management LLC boosted its holdings in Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after acquiring an additional 8,252,691 shares during the period. FMR LLC boosted its stake in shares of Scorpio Tankers by 266.2% during the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after purchasing an additional 1,899,981 shares during the period. Cooper Creek Partners Management LLC grew its holdings in shares of Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock worth $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. Norges Bank purchased a new position in Scorpio Tankers in the 4th quarter worth about $30,374,000. Finally, Vanguard Group Inc. lifted its holdings in Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock valued at $124,786,000 after buying an additional 458,120 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

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.