Scorpio Tankers Inc. (NYSE:STNG) Receives $84.17 Average Price Target from Brokerages

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $84.17.

Several analysts have recently issued reports on STNG shares. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Evercore ISI upped their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Bank of America dropped their target price 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. Finally, Stifel Nicolaus upped their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors have recently added to or reduced their stakes in the company. LSV Asset Management lifted its stake 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 worth $131,594,000 after acquiring an additional 995,978 shares in the last quarter. Norges Bank purchased a new stake in Scorpio Tankers during the 4th quarter worth approximately $34,009,000. Vanguard Group Inc. raised its position in shares of Scorpio Tankers by 176.6% in the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after purchasing an additional 549,395 shares in the last quarter. Hartree Partners LP boosted its stake in shares of Scorpio Tankers by 634.5% during the 1st quarter. Hartree Partners LP now owns 521,498 shares of the shipping company’s stock valued at $37,313,000 after buying an additional 450,498 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after buying an additional 264,049 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $67.62 on Friday. The business has a fifty day simple moving average of $73.58 and a 200-day simple moving average of $74.44. Scorpio Tankers has a 52 week low of $47.88 and a 52 week high of $84.67. The company has a market cap of $3.60 billion, a P/E ratio of 6.27, a P/E/G ratio of 1.83 and a beta of 0.16. The company has a quick ratio of 2.63, a current ratio of 2.67 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 for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. During the same period in the prior year, the firm posted $2.41 EPS. The company’s revenue was up 15.6% on a year-over-year basis. Equities research analysts forecast that Scorpio Tankers will post 12.71 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Thursday, August 15th. Scorpio Tankers’s payout ratio is 14.84%.

About Scorpio Tankers

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.