Scorpio Tankers Inc. (NYSE:STNG) Receives $75.40 Average PT from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $75.40.

A number of research analysts have recently weighed in 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. Evercore ISI dropped their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Bank of America reduced their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Finally, 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, December 12th.

Institutional Trading of Scorpio Tankers

Several hedge funds have recently added to or reduced their stakes in STNG. Public Employees Retirement System of Ohio purchased a new stake in shares of Scorpio Tankers during the 3rd quarter worth approximately $8,459,000. Mountaineer Partners Management LLC increased its position in 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 worth $596,912,000 after buying an additional 8,252,691 shares during the last quarter. Independent Advisor Alliance bought a new stake in shares of Scorpio Tankers in the third quarter valued at $2,221,000. Versor Investments LP lifted its position in shares of Scorpio Tankers by 359.0% during the 3rd quarter. Versor Investments LP now owns 16,803 shares of the shipping company’s stock valued at $1,198,000 after buying an additional 13,142 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Scorpio Tankers during the 2nd quarter worth $1,098,000. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

STNG opened at $47.49 on Friday. Scorpio Tankers has a 1-year low of $45.94 and a 1-year high of $84.67. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 3.40 and a beta of 0.13. The company’s fifty day moving average price is $55.11 and its two-hundred day moving average price is $67.72. 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 posted its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.91 EPS. On average, analysts expect that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.37%. Scorpio Tankers’s payout ratio is currently 11.47%.

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.