Scorpio Tankers Inc. (NYSE:STNG) Given Consensus Rating of “Moderate Buy” by Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has received a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $75.40.

A number of equities analysts have weighed in on the stock. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Jefferies Financial Group cut their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Evercore ISI dropped their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio acquired a new position in Scorpio Tankers in the 3rd quarter worth $8,459,000. Mountaineer Partners Management LLC lifted its stake in shares of Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after acquiring an additional 8,252,691 shares in the last quarter. Barclays PLC boosted its holdings in Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after purchasing an additional 168,866 shares during the last quarter. Independent Advisor Alliance acquired a new stake in Scorpio Tankers during the 3rd quarter valued at approximately $2,221,000. Finally, Versor Investments LP increased its holdings in Scorpio Tankers by 359.0% during the 3rd quarter. Versor Investments LP now owns 16,803 shares of the shipping company’s stock worth $1,198,000 after purchasing an additional 13,142 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $56.56 on Thursday. The company has a market cap of $2.86 billion, a P/E ratio of 4.05 and a beta of 0.12. The business has a fifty day simple moving average of $51.21 and a 200-day simple moving average of $64.04. Scorpio Tankers has a 52 week low of $45.94 and a 52 week high of $84.67. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million during the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 EPS. Equities research analysts forecast that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

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.