Scorpio Tankers (NYSE:STNG) Reaches New 12-Month Low – Here’s Why

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week low during trading on Tuesday . The stock traded as low as $37.80 and last traded at $37.74, with a volume of 178164 shares. The stock had previously closed at $38.45.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on STNG shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus lowered their target price 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. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Performance

The firm’s 50 day moving average price is $46.91 and its two-hundred day moving average price is $55.81. The firm has a market cap of $1.92 billion, a PE ratio of 2.91 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.22%. Scorpio Tankers’s payout ratio is currently 12.27%.

Hedge Funds Weigh In On Scorpio Tankers

A number of large investors have recently made changes to their positions in the stock. Mountaineer Partners Management LLC boosted its stake in shares of Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after acquiring an additional 8,252,691 shares in the last quarter. FMR LLC boosted its position in Scorpio Tankers by 266.2% during the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock worth $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Cooper Creek Partners Management LLC grew its holdings in Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers in the fourth quarter valued at $30,374,000. Finally, Vanguard Group Inc. raised its stake in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after buying an additional 458,120 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.