Scorpio Tankers (NYSE:STNG) Sets New 1-Year Low – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week low during mid-day 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.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Up 0.0 %

The business has a 50 day moving average of $47.91 and a two-hundred day moving average of $56.95. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The firm has a market cap of $1.99 billion, a P/E ratio of 3.01 and a beta of 0.01.

Scorpio Tankers (NYSE:STNG) last posted its quarterly 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%. Analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

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

Institutional Investors Weigh In On Scorpio Tankers

A number of large investors have recently added to or reduced their stakes in STNG. Mountaineer Partners Management LLC lifted its holdings in shares of Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after buying an additional 8,252,691 shares in the last quarter. FMR LLC raised its stake in 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 in the last quarter. Cooper Creek Partners Management LLC boosted its holdings in 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 valued at $109,098,000 after purchasing an additional 1,738,190 shares during the period. Norges Bank bought a new stake in Scorpio Tankers in the 4th quarter valued at about $30,374,000. Finally, Vanguard Group Inc. increased its holdings in shares of Scorpio Tankers by 22.3% during the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after purchasing an additional 458,120 shares during the period. Institutional investors 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.