Scorpio Tankers Inc. (NYSE:STNG) Receives $68.75 Average PT from Analysts

Scorpio Tankers Inc. (NYSE:STNG) has earned an average rating of “Hold” from the five research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $68.75.

STNG has been the topic of a number of research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday, February 13th. Stifel Nicolaus cut their price objective on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its stake in shares of Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after buying an additional 181,135 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Scorpio Tankers in the third quarter worth $8,459,000. Mountaineer Partners Management LLC increased its holdings 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 acquiring an additional 8,252,691 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Scorpio Tankers by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after purchasing an additional 38,599 shares during the last quarter. Finally, Barclays PLC boosted its stake in Scorpio Tankers by 873.6% in the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 0.5 %

NYSE STNG opened at $38.24 on Tuesday. The stock has a market cap of $1.91 billion, a P/E ratio of 2.93 and a beta of 0.01. Scorpio Tankers has a fifty-two week low of $37.14 and a fifty-two week high of $84.67. The stock has a 50 day simple moving average of $43.26 and a two-hundred day simple moving average of $52.97. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

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 18.01% and a net margin of 53.76%. On average, analysts forecast that Scorpio Tankers will post 5.29 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed 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 yield of 4.18%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 12.27%.

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.