Scorpio Tankers (NYSE:STNG) Upgraded to “Hold” by Fearnley Fonds

Fearnley Fonds upgraded shares of Scorpio Tankers (NYSE:STNG) to a hold rating in a research report report published on Friday, Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. StockNews.com cut shares of Scorpio Tankers from a buy rating to a hold rating in a report on Friday, August 16th. Evercore ISI boosted their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reiterated a buy rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Stifel Nicolaus lifted their target price on Scorpio Tankers from $84.00 to $86.00 and gave the company a buy rating in a report on Wednesday, July 24th. Finally, Bank of America cut their price target on Scorpio Tankers from $85.00 to $82.00 and set a neutral rating on the stock in a report on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $88.80.

Scorpio Tankers Stock Down 0.5 %

NYSE:STNG opened at $71.30 on Friday. Scorpio Tankers has a 52 week low of $47.88 and a 52 week high of $84.67. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock’s fifty day moving average is $71.66 and its two-hundred day moving average is $74.63. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. Scorpio Tankers’s revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.41 EPS. Research analysts anticipate that Scorpio Tankers will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers’s payout ratio is 14.84%.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in Scorpio Tankers by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 20,668 shares of the shipping company’s stock valued at $1,257,000 after acquiring an additional 464 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Scorpio Tankers by 11.9% in the 4th quarter. US Bancorp DE now owns 14,850 shares of the shipping company’s stock valued at $903,000 after purchasing an additional 1,580 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Scorpio Tankers by 74.6% in the 4th quarter. Hsbc Holdings PLC now owns 19,098 shares of the shipping company’s stock valued at $1,157,000 after purchasing an additional 8,157 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Scorpio Tankers in the 4th quarter valued at about $217,000. Finally, KBC Group NV grew its stake in Scorpio Tankers by 14.1% during the 4th quarter. KBC Group NV now owns 4,836 shares of the shipping company’s stock worth $294,000 after buying an additional 596 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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.