Scorpio Tankers (NYSE:STNG) Reaches New 12-Month Low Following Analyst Downgrade

Scorpio Tankers Inc. (NYSE:STNG) reached a new 52-week low during trading on Thursday after Jefferies Financial Group lowered their price target on the stock from $80.00 to $75.00. Jefferies Financial Group currently has a buy rating on the stock. Scorpio Tankers traded as low as $46.81 and last traded at $47.22, with a volume of 41817 shares trading hands. The stock had previously closed at $47.90.

A number of other research analysts have also issued reports on the company. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and dropped their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.40.

Hedge Funds Weigh In On Scorpio Tankers

Large investors have recently made changes to their positions in the stock. Mountaineer Partners Management LLC grew its position in 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 during the period. International Assets Investment Management LLC grew its holdings in shares of Scorpio Tankers by 8,249.0% in the 3rd 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. Acadian Asset Management LLC increased its stake in Scorpio Tankers by 1,357.2% in the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after purchasing an additional 264,049 shares in the last quarter. American Century Companies Inc. raised its holdings in Scorpio Tankers by 20.3% during the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after purchasing an additional 199,858 shares during the last quarter. Finally, Barclays PLC boosted its position in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

The company has a market cap of $2.44 billion, a price-to-earnings ratio of 3.46 and a beta of 0.13. The company has a fifty day simple moving average of $57.53 and a two-hundred day simple moving average of $68.98. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The firm had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 EPS. On average, equities research analysts anticipate that Scorpio Tankers Inc. will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

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.