Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) Price Target at $75.40

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $75.40.

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

Scorpio Tankers Price Performance

STNG opened at $47.15 on Friday. The firm has a market capitalization of $2.38 billion, a P/E ratio of 3.39 and a beta of 0.13. The stock has a fifty day moving average of $57.02 and a 200-day moving average of $68.57. 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 has a 12-month low of $45.94 and a 12-month high of $84.67.

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

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors and hedge funds have recently made changes to their positions in STNG. Mountaineer Partners Management LLC lifted its position in shares of Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares in the last quarter. LSV Asset Management lifted its position in shares of Scorpio Tankers by 8.5% during the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after buying an additional 156,414 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Scorpio Tankers by 5.0% in the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock valued at $106,800,000 after acquiring an additional 62,600 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after acquiring an additional 199,858 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

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.