Scorpio Tankers (NYSE:STNG) Hits New 1-Year Low – Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $40.73 and last traded at $41.99, with a volume of 1047222 shares. The stock had previously closed at $41.23.

Analysts Set New Price Targets

Several analysts have weighed in on STNG shares. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Stifel Nicolaus decreased 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. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Price Performance

The company’s fifty day moving average is $48.42 and its two-hundred day moving average is $57.79. The firm has a market capitalization of $2.00 billion, a price-to-earnings ratio of 3.03 and a beta of 0.08. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Equities research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.05%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds have recently bought and sold shares of the company. U S Global Investors Inc. raised its holdings in Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock worth $253,000 after purchasing an additional 215 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Scorpio Tankers by 2.1% in the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after purchasing an additional 252 shares during the period. Lindbrook Capital LLC raised its holdings in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. raised its holdings in Scorpio Tankers by 40.1% in the fourth 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 period. Finally, Chesapeake Capital Corp IL raised its holdings in Scorpio Tankers by 6.4% in the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock worth $419,000 after purchasing an additional 349 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.