Scorpio Tankers (NYSE:STNG) Shares Gap Down to $70.47

Scorpio Tankers Inc. (NYSE:STNG)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $70.47, but opened at $68.52. Scorpio Tankers shares last traded at $68.20, with a volume of 176,256 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on STNG. Stifel Nicolaus boosted their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Evercore ISI upped their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Finally, Bank of America reduced their price target on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Scorpio Tankers Trading Down 2.6 %

The stock has a 50 day moving average of $72.37 and a 200-day moving average of $74.46. The company has a market capitalization of $3.65 billion, a P/E ratio of 6.53, a P/E/G ratio of 1.88 and a beta of 0.16. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.41 EPS. On average, research analysts predict that Scorpio Tankers Inc. will post 12.71 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.33%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC boosted its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after purchasing an additional 291 shares during the period. Fifth Third Bancorp boosted its stake in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after purchasing an additional 319 shares during the period. Quarry LP boosted its stake in Scorpio Tankers by 52.8% in the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Newbridge Financial Services Group Inc. boosted its stake in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth approximately $58,000. 54.64% of the stock is currently 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.