Scorpio Tankers (NYSE:STNG) Hits New 12-Month Low – Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $38.03 and last traded at $38.43, with a volume of 35064 shares traded. The stock had previously closed at $39.35.

Analyst Ratings Changes

Several analysts recently issued reports on STNG shares. Stifel Nicolaus reduced their price target 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. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 3.01 and a beta of 0.01. The business’s 50-day simple moving average is $47.91 and its two-hundred day simple moving average is $56.95.

Scorpio Tankers (NYSE:STNG) last issued its earnings results 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 53.76% and a return on equity of 18.01%. Research analysts expect that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.07%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently modified their holdings of the business. U S Global Investors Inc. raised its stake in Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock worth $253,000 after buying an additional 215 shares during the last quarter. Segall Bryant & Hamill LLC raised its stake in Scorpio Tankers by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after buying an additional 252 shares during the last quarter. Lindbrook Capital LLC raised its stake in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after buying an additional 266 shares during the last quarter. Finally, Chesapeake Capital Corp IL raised its stake in Scorpio Tankers by 6.4% during the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock worth $419,000 after buying an additional 349 shares during the last quarter. 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.