Scorpio Tankers (NYSE:STNG) Hits New 1-Year High at $74.34

Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $74.34 and last traded at $74.20, with a volume of 118220 shares changing hands. The stock had previously closed at $72.70.

Analyst Ratings Changes

Several brokerages recently issued reports on STNG. StockNews.com lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Evercore ISI lifted their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Jefferies Financial Group reissued a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $74.00.

Scorpio Tankers Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.12 and a current ratio of 1.13. The stock has a market capitalization of $3.98 billion, a P/E ratio of 7.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18. The stock’s fifty day simple moving average is $70.60 and its two-hundred day simple moving average is $64.68.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.13. The firm had revenue of $336.30 million for the quarter, compared to the consensus estimate of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.24 EPS. As a group, research analysts expect that Scorpio Tankers Inc. will post 12.25 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.35. Scorpio Tankers’s payout ratio is 16.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STNG. Epoch Investment Partners Inc. boosted its stake in Scorpio Tankers by 0.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock worth $1,379,000 after acquiring an additional 150 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Scorpio Tankers by 1.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after acquiring an additional 171 shares in the last quarter. U S Global Investors Inc. boosted its stake in Scorpio Tankers by 14.5% during the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after acquiring an additional 220 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Scorpio Tankers by 5.9% in the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after buying an additional 281 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of Scorpio Tankers by 5.6% in the third quarter. Raymond James & Associates now owns 6,203 shares of the shipping company’s stock valued at $336,000 after buying an additional 331 shares in the last quarter. Institutional investors and hedge funds 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.