Scorpio Tankers (NYSE:STNG) Stock Price Up 4.6% – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price was up 4.6% during trading on Friday . The company traded as high as $37.68 and last traded at $37.65. Approximately 273,539 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 885,038 shares. The stock had previously closed at $35.99.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI reduced their target price on Scorpio Tankers from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 price objective on shares of Scorpio Tankers in a report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and an average target price of $63.75.

Scorpio Tankers Trading Up 3.8 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The business’s 50-day simple moving average is $37.78 and its two-hundred day simple moving average is $47.81. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 2.86 and a beta of -0.01.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share 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, research analysts anticipate 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 was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.28%. Scorpio Tankers’s payout ratio 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. GAMMA Investing LLC lifted its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares in the last quarter. Covestor Ltd boosted its position in Scorpio Tankers by 1,375.0% in the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after buying an additional 770 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 266 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Scorpio Tankers by 850.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after acquiring an additional 876 shares during the last quarter. Hedge funds and other 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.