Scorpio Tankers Inc. (NYSE:STNG) Given Average Rating of “Moderate Buy” by Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $75.40.

A number of equities research analysts recently commented on STNG shares. Jefferies Financial Group reduced their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Bank of America dropped their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, Evercore ISI decreased their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th.

Institutional Trading of Scorpio Tankers

Several large investors have recently bought and sold shares of the company. Mountaineer Partners Management LLC grew its position in shares of Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. LSV Asset Management grew its holdings in Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock valued at $162,222,000 after buying an additional 156,414 shares during the last quarter. International Assets Investment Management LLC increased its position 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 buying an additional 1,857,668 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Scorpio Tankers by 5.0% in the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after acquiring an additional 62,600 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG opened at $48.31 on Friday. The company’s 50 day simple moving average is $57.53 and its 200-day simple moving average is $68.89. The firm has a market cap of $2.44 billion, a PE ratio of 3.46 and a beta of 0.13. Scorpio Tankers has a 12-month low of $46.66 and a 12-month high of $84.67. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million during 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 business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $1.91 EPS. As a group, equities analysts predict that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.31%. Scorpio Tankers’s dividend payout ratio is presently 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.