Scorpio Tankers (NYSE:STNG) Trading Up 2.9% – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price was up 2.9% during mid-day trading on Wednesday . The stock traded as high as $48.76 and last traded at $48.50. Approximately 448,809 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 912,498 shares. The stock had previously closed at $47.15.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STNG shares. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Bank of America decreased their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Evercore ISI decreased their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group decreased their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $75.40.

Scorpio Tankers Trading Up 2.2 %

The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 3.45 and a beta of 0.13. The company has a fifty day moving average price of $56.50 and a 200-day moving average price of $68.32. 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 (NYSE:STNG) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Scorpio Tankers’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.91 EPS. As a group, research analysts expect that Scorpio Tankers Inc. will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.32%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Scorpio Tankers in the third quarter valued at approximately $8,459,000. Mountaineer Partners Management LLC grew its position in shares of Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares in the last quarter. Independent Advisor Alliance purchased a new stake in shares of Scorpio Tankers in the third quarter valued at approximately $2,221,000. Versor Investments LP grew its position in shares of Scorpio Tankers by 359.0% in the third quarter. Versor Investments LP now owns 16,803 shares of the shipping company’s stock valued at $1,198,000 after purchasing an additional 13,142 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in Scorpio Tankers in the second quarter worth approximately $1,098,000. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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.