Scorpio Tankers Inc. (NYSE:STNG) Short Interest Down 19.9% in January

Scorpio Tankers Inc. (NYSE:STNG) saw a significant decrease in short interest in the month of January. As of January 31st, there was short interest totalling 2,340,000 shares, a decrease of 19.9% from the January 15th total of 2,920,000 shares. Based on an average daily trading volume, of 985,100 shares, the short-interest ratio is currently 2.4 days. Currently, 4.8% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

STNG has been the subject of several recent research reports. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday. Bank of America cut their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Stifel Nicolaus decreased their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday. Finally, Evercore ISI cut their price objective 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Down 1.2 %

NYSE:STNG traded down $0.53 during mid-day trading on Friday, hitting $44.13. 1,147,005 shares of the company’s stock traded hands, compared to its average volume of 1,023,026. The company has a fifty day moving average of $49.33 and a 200 day moving average of $59.59. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers has a twelve month low of $43.32 and a twelve month high of $84.67. The company has a market capitalization of $2.23 billion, a P/E ratio of 3.16 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. On average, analysts forecast that Scorpio Tankers will post 9.88 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.63%. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. acquired a new stake in Scorpio Tankers during the 3rd quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after purchasing an additional 770 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after buying an additional 266 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.