Scorpio Tankers (NYSE:STNG) Reaches New 12-Month Low – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $43.31 and last traded at $43.76, with a volume of 1077917 shares. The stock had previously closed at $44.13.

Analyst Ratings Changes

A number of research firms have recently issued reports on STNG. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Bank of America cut 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. Evercore ISI cut 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. Finally, Stifel Nicolaus cut 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, February 14th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Stock Performance

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 3.36 and a beta of 0.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company’s 50 day simple moving average is $49.24 and its 200 day simple moving average is $59.24.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. On average, equities research analysts anticipate that Scorpio Tankers Inc. will post 5.41 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 3.66%. Scorpio Tankers’s payout ratio is 12.27%.

Hedge Funds Weigh In On Scorpio Tankers

Large investors have recently bought and sold shares of the stock. Mountaineer Partners Management LLC grew its stake in shares of Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. FMR LLC grew its stake in shares of Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock worth $129,870,000 after purchasing an additional 1,899,981 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after purchasing an additional 1,857,668 shares during the last quarter. Cooper Creek Partners Management LLC grew its stake in shares of Scorpio Tankers by 380.0% in the 4th 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. Finally, Norges Bank acquired a new position in shares of Scorpio Tankers in the 4th quarter worth approximately $30,374,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.