Scorpio Tankers (NYSE:STNG) Reaches New 1-Year Low – Time to Sell?

Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $37.80 and last traded at $37.74, with a volume of 178164 shares traded. The stock had previously closed at $38.45.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on STNG shares. Stifel Nicolaus cut their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a report on Friday, February 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Price Performance

The company has a market capitalization of $1.96 billion, a PE ratio of 2.97 and a beta of 0.01. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average price is $46.44 and its 200-day moving average price is $55.46.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. On average, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced 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 is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.13%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 12.27%.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. lifted its position in shares of Scorpio Tankers by 2.5% during the third quarter. Principal Financial Group Inc. now owns 41,416 shares of the shipping company’s stock worth $2,953,000 after purchasing an additional 992 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new stake in Scorpio Tankers during the 3rd quarter valued at $378,000. Aigen Investment Management LP increased its stake in Scorpio Tankers by 19.7% during the 3rd quarter. Aigen Investment Management LP now owns 10,877 shares of the shipping company’s stock worth $776,000 after buying an additional 1,793 shares during the period. MQS Management LLC acquired a new position in Scorpio Tankers in the 3rd quarter worth $284,000. Finally, AM Squared Ltd purchased a new position in Scorpio Tankers in the 3rd quarter valued at about $64,000. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.