Scorpio Tankers (NYSE:STNG) Shares Up 6.7% – Should You Buy?

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on STNG shares. Stifel Nicolaus lowered their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group reissued a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Price Performance

The company’s 50 day moving average price is $41.22 and its 200 day moving average price is $51.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 2.64 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. On average, equities research analysts predict that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STNG. GAMMA Investing LLC grew its holdings in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd increased its holdings in shares of Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after purchasing an additional 770 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Scorpio Tankers by 850.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after buying an additional 876 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

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.