Scorpio Tankers’ (STNG) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group reissued their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a report issued on Thursday morning,Benzinga reports. They currently have a $75.00 price objective on the shipping company’s stock.

A number of other research analysts have also issued reports on STNG. Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI lowered their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price objective for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Performance

Scorpio Tankers stock opened at $44.13 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. Scorpio Tankers has a 12 month low of $43.32 and a 12 month high of $84.67. The company has a fifty day moving average price of $49.33 and a two-hundred day moving average price of $59.59. The company has a market cap of $2.23 billion, a PE ratio of 3.16 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data 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 52.40% and a return on equity of 22.56%. Research analysts expect that Scorpio Tankers will post 9.88 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 3.63%. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Institutional Trading of Scorpio Tankers

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC raised its holdings in Scorpio Tankers by 34.8% during the third quarter. SG Americas Securities LLC now owns 1,777 shares of the shipping company’s stock worth $127,000 after purchasing an additional 459 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Scorpio Tankers by 191.0% in the 3rd quarter. Blue Trust Inc. now owns 3,277 shares of the shipping company’s stock worth $234,000 after buying an additional 2,151 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Scorpio Tankers by 16.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 32,903 shares of the shipping company’s stock valued at $2,346,000 after buying an additional 4,564 shares during the period. U S Global Investors Inc. boosted its stake in Scorpio Tankers by 172.6% during the third quarter. U S Global Investors Inc. now owns 4,877 shares of the shipping company’s stock valued at $348,000 after buying an additional 3,088 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Scorpio Tankers by 8,249.0% during the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after acquiring an additional 1,857,668 shares during the period. 54.64% of the stock is currently owned by 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.