Scorpio Tankers Inc. (NYSE:STNG) Short Interest Update

Scorpio Tankers Inc. (NYSE:STNG) saw a large drop in short interest in the month of January. As of January 31st, there was short interest totalling 2,340,000 shares, a drop of 19.9% from the January 15th total of 2,920,000 shares. Based on an average trading volume of 985,100 shares, the short-interest ratio is currently 2.4 days. Approximately 4.8% of the company’s stock are sold short.

Scorpio Tankers Stock Performance

Shares of STNG stock traded down $0.53 during trading hours on Friday, reaching $44.13. The company had a trading volume of 1,147,005 shares, compared to its average volume of 1,023,026. The business has a fifty day moving average price of $49.33 and a 200-day moving average price of $59.71. Scorpio Tankers has a one year low of $43.32 and a one year high of $84.67. The firm has a market cap of $2.23 billion, a PE ratio of 3.16 and a beta of 0.08. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. Sell-side analysts predict that Scorpio Tankers will post 9.88 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.63%. Scorpio Tankers’s dividend payout ratio is presently 11.47%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in shares of Scorpio Tankers by 22.2% in the 4th quarter. AQR Capital Management LLC now owns 215,858 shares of the shipping company’s stock worth $10,726,000 after purchasing an additional 39,186 shares during the period. Northern Trust Corp increased its holdings in Scorpio Tankers by 2.8% during the fourth quarter. Northern Trust Corp now owns 449,742 shares of the shipping company’s stock valued at $22,348,000 after buying an additional 12,139 shares during the last quarter. Oxford Asset Management LLP bought a new position in Scorpio Tankers in the fourth quarter worth approximately $374,000. Boothbay Fund Management LLC purchased a new position in shares of Scorpio Tankers during the 4th quarter worth $457,000. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Scorpio Tankers by 12.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 92,820 shares of the shipping company’s stock valued at $4,614,000 after acquiring an additional 10,016 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on STNG. Stifel Nicolaus lowered their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday. Jefferies Financial Group restated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a research note on Thursday. Bank of America reduced their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Finally, Evercore ISI reduced their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $68.75.

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.