Scorpio Tankers (NYSE:STNG) Reaches New 12-Month Low – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $43.31 and last traded at $43.76, with a volume of 1077917 shares traded. The stock had previously closed at $44.13.

Wall Street Analysts Forecast Growth

STNG has been the topic of several analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Evercore ISI dropped 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. Bank of America dropped their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus dropped their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 3.36 and a beta of 0.08. The firm’s fifty day moving average is $49.24 and its 200 day moving average is $59.24.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, analysts predict that Scorpio Tankers Inc. will post 5.41 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently added to or reduced their stakes in the business. Vident Advisory LLC lifted its stake in Scorpio Tankers by 5.8% in the fourth quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company’s stock valued at $743,000 after acquiring an additional 818 shares during the last quarter. Sherbrooke Park Advisers LLC lifted its stake in Scorpio Tankers by 28.3% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company’s stock valued at $200,000 after acquiring an additional 889 shares during the last quarter. ProShare Advisors LLC lifted its stake in Scorpio Tankers by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 12,552 shares of the shipping company’s stock valued at $624,000 after acquiring an additional 3,700 shares during the last quarter. Interval Partners LP acquired a new stake in Scorpio Tankers in the fourth quarter valued at approximately $657,000. Finally, J. Goldman & Co LP acquired a new stake in Scorpio Tankers in the fourth quarter valued at approximately $9,830,000. 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.