Scorpio Tankers (NYSE:STNG) Shares Gap Down to $70.47

Scorpio Tankers Inc. (NYSE:STNG) shares gapped down prior to trading on Friday . The stock had previously closed at $70.47, but opened at $68.52. Scorpio Tankers shares last traded at $68.20, with a volume of 176,256 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Stifel Nicolaus boosted their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. 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. Finally, Bank of America dropped their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.80.

Scorpio Tankers Stock Performance

The stock has a market capitalization of $3.63 billion, a P/E ratio of 6.33, a P/E/G ratio of 1.88 and a beta of 0.16. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The company’s 50-day moving average is $72.20 and its two-hundred day moving average is $74.54.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data 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 company had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.41 EPS. As a group, sell-side analysts anticipate that Scorpio Tankers Inc. will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were paid a $0.40 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.60 annualized dividend and a yield of 2.34%. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

Institutional Trading of Scorpio Tankers

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares during the last quarter. Fifth Third Bancorp raised its stake in Scorpio Tankers by 319.0% during the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 319 shares during the last quarter. Quarry LP raised its stake in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. raised its stake in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in Scorpio Tankers during the 1st quarter valued at $58,000. 54.64% of the stock is 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.