Scorpio Tankers (NYSE:STNG) Trading Down 2.6%

Scorpio Tankers Inc. (NYSE:STNG)’s share price was down 2.6% on Monday . The stock traded as low as $77.67 and last traded at $77.85. Approximately 49,376 shares changed hands during trading, a decline of 95% from the average daily volume of 976,449 shares. The stock had previously closed at $79.89.

Analysts Set New Price Targets

A number of research firms recently commented on STNG. Bank of America lifted their price objective on Scorpio Tankers from $82.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 9th. Finally, StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.67.

Scorpio Tankers Stock Down 0.0 %

The firm has a market capitalization of $4.28 billion, a PE ratio of 7.27, a price-to-earnings-growth ratio of 1.05 and a beta of 0.16. The company has a current ratio of 1.60, a quick ratio of 1.58 and a debt-to-equity ratio of 0.35. The firm has a 50-day moving average of $79.53 and a two-hundred day moving average of $72.17.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.25. The business had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. On average, equities research analysts forecast that Scorpio Tankers Inc. will post 12.18 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend was Friday, June 14th. Scorpio Tankers’s payout ratio is currently 14.84%.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in STNG. CWM LLC raised its position in Scorpio Tankers by 39.4% in the second quarter. CWM LLC now owns 1,791 shares of the shipping company’s stock valued at $146,000 after purchasing an additional 506 shares during the period. Boston Partners grew its stake in shares of Scorpio Tankers by 112.0% in the first quarter. Boston Partners now owns 50,039 shares of the shipping company’s stock valued at $3,580,000 after buying an additional 26,438 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Scorpio Tankers during the 1st quarter valued at about $2,107,000. EMC Capital Management purchased a new stake in shares of Scorpio Tankers during the 1st quarter valued at about $194,000. Finally, Tidal Investments LLC lifted its position in Scorpio Tankers by 17.7% during the 1st quarter. Tidal Investments LLC now owns 33,504 shares of the shipping company’s stock worth $2,397,000 after acquiring an additional 5,038 shares in the last quarter. Institutional investors and hedge funds 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.