Scorpio Tankers Inc. (NYSE:STNG) Short Interest Down 15.9% in December

Scorpio Tankers Inc. (NYSE:STNG) was the recipient of a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 3,230,000 shares, a drop of 15.9% from the December 15th total of 3,840,000 shares. Based on an average daily trading volume, of 950,400 shares, the days-to-cover ratio is presently 3.4 days. Currently, 6.6% of the shares of the stock are short sold.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Scorpio Tankers in the third quarter worth $28,000. GAMMA Investing LLC grew its stake in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares during the last quarter. Quarry LP increased its holdings in Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in Scorpio Tankers by 34.2% during 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 last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Evercore ISI decreased their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group dropped their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $75.40.

Scorpio Tankers Stock Down 3.5 %

Shares of NYSE:STNG opened at $54.53 on Friday. Scorpio Tankers has a 52-week low of $45.94 and a 52-week high of $84.67. The company has a market capitalization of $2.76 billion, a PE ratio of 3.91 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company has a fifty day moving average of $51.20 and a 200-day moving average of $63.97.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same quarter in the previous year, the company posted $1.91 EPS. Scorpio Tankers’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, equities analysts predict that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a $0.40 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.93%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

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.