Scorpio Tankers (NYSE:STNG) Hits New 52-Week Low – Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week low during trading on Friday . The stock traded as low as $45.43 and last traded at $45.86, with a volume of 170599 shares trading hands. The stock had previously closed at $47.72.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on STNG shares. Jefferies Financial Group cut their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price objective for the company from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America lowered their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $75.40.

Scorpio Tankers Trading Down 3.2 %

The stock has a market capitalization of $2.33 billion, a PE ratio of 3.31 and a beta of 0.12. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average is $50.89 and its two-hundred day moving average is $63.01.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same period last year, the business posted $1.91 EPS. The company’s revenue was down 8.0% on a year-over-year basis. On average, analysts predict that Scorpio Tankers Inc. will post 10.88 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a $0.40 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a dividend yield of 3.46%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently modified their holdings of STNG. EverSource Wealth Advisors LLC raised its position in shares of Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Scorpio Tankers in the third quarter worth $28,000. GAMMA Investing LLC raised its holdings in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 402 shares in the last quarter. Quarry LP boosted its stake in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after acquiring an additional 229 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. grew its holdings in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.