Scorpio Tankers (NYSE:STNG) Reaches New 52-Week Low – What’s Next?

Shares of Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week low during trading on Wednesday . The company traded as low as $37.07 and last traded at $37.53, with a volume of 66902 shares changing hands. The stock had previously closed at $38.10.

Analysts Set New Price Targets

STNG has been the topic of a number of recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus cut their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Trading Down 1.6 %

The company has a market cap of $1.87 billion, a P/E ratio of 2.88 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 stock’s 50 day moving average is $42.76 and its 200-day moving average is $52.45.

Scorpio Tankers (NYSE:STNG) last issued its earnings results 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%. Research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s payout ratio is 12.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STNG. U S Global Investors Inc. raised its position in Scorpio Tankers by 4.4% in the 4th quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock worth $253,000 after buying an additional 215 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after buying an additional 402 shares during the period. Finally, Ellevest Inc. increased its position in Scorpio Tankers by 8.4% during the fourth quarter. Ellevest Inc. now owns 6,278 shares of the shipping company’s stock valued at $312,000 after acquiring an additional 485 shares during the last quarter. 54.64% of the stock is owned by institutional investors.

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.