Scorpio Tankers (NYSE:STNG) Trading Up 6.7% – Still a Buy?

Scorpio Tankers Inc. (NYSE:STNG) was up 6.7% during mid-day trading on Monday . The stock traded as high as $34.01 and last traded at $34.00. Approximately 192,432 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 870,818 shares. The stock had previously closed at $31.86.

Analysts Set New Price Targets

A number of research firms recently weighed in on STNG. Stifel Nicolaus dropped 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 note on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Price Performance

The company’s 50 day simple moving average is $41.22 and its 200 day simple moving average is $51.10. 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 stock has a market cap of $1.72 billion, a P/E ratio of 2.64 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data 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%. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.65%. Scorpio Tankers’s payout ratio is 12.27%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Scorpio Tankers by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company’s stock worth $174,512,000 after acquiring an additional 10,854 shares during the period. FMR LLC boosted its position in Scorpio Tankers by 266.2% during the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock worth $129,870,000 after acquiring an additional 1,899,981 shares during the last quarter. Vanguard Group Inc. increased its stake in Scorpio Tankers by 22.3% in the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock valued at $124,786,000 after buying an additional 458,120 shares during the last quarter. Cooper Creek Partners Management LLC increased its stake in Scorpio Tankers by 380.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after buying an additional 1,738,190 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company’s stock worth $77,437,000 after buying an additional 153,267 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

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.