Scorpio Tankers (NYSE:STNG) Shares Gap Down to $81.10

Shares of Scorpio Tankers Inc. (NYSE:STNG) gapped down prior to trading on Tuesday . The stock had previously closed at $81.10, but opened at $77.52. Scorpio Tankers shares last traded at $77.72, with a volume of 159,515 shares trading hands.

Analysts Set New Price Targets

STNG has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Thursday, May 9th. StockNews.com upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Evercore ISI lifted their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Bank of America increased their target price on Scorpio Tankers from $76.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, May 10th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.17.

Scorpio Tankers Trading Down 3.6 %

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58. The stock has a market cap of $4.27 billion, a P/E ratio of 7.53, a price-to-earnings-growth ratio of 1.21 and a beta of 0.20. The stock’s 50-day moving average is $75.60 and its two-hundred day moving average is $68.69.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. The business had revenue of $389.76 million during the quarter, compared to analysts’ expectations of $381.46 million. Equities research analysts anticipate that Scorpio Tankers Inc. will post 11.73 EPS for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.05%. Scorpio Tankers’s payout ratio is currently 14.84%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,760,429 shares of the shipping company’s stock worth $228,634,000 after buying an additional 47,046 shares during the period. FMR LLC raised its stake in shares of Scorpio Tankers by 94.4% during the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock valued at $126,357,000 after acquiring an additional 1,133,900 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock valued at $131,594,000 after purchasing an additional 995,978 shares during the period. International Assets Investment Management LLC grew its stake in Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after purchasing an additional 950,600 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares during the period. 54.64% of the stock is owned by hedge funds and other 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.