Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Increases By 37.5%

Scorpio Tankers Inc. (NYSE:STNGGet Rating) saw a large increase in short interest in May. As of May 31st, there was short interest totalling 3,300,000 shares, an increase of 37.5% from the May 15th total of 2,400,000 shares. Approximately 6.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,280,000 shares, the short-interest ratio is currently 2.6 days.

Large investors have recently modified their holdings of the stock. Counterpoint Mutual Funds LLC bought a new position in Scorpio Tankers in the fourth quarter worth approximately $28,000. International Assets Investment Management LLC acquired a new position in shares of Scorpio Tankers during the first quarter worth $215,000. ProShare Advisors LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter worth $136,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Scorpio Tankers during the fourth quarter worth $145,000. Finally, First Trust Advisors LP increased its position in shares of Scorpio Tankers by 6.8% during the fourth quarter. First Trust Advisors LP now owns 11,681 shares of the shipping company’s stock worth $150,000 after purchasing an additional 742 shares in the last quarter. 42.80% of the stock is owned by institutional investors.

Shares of NYSE:STNG traded down $1.80 during trading hours on Friday, hitting $33.45. 68,639 shares of the company’s stock traded hands, compared to its average volume of 1,549,462. Scorpio Tankers has a 1 year low of $11.02 and a 1 year high of $37.71. The business has a fifty day moving average price of $28.18 and a 200-day moving average price of $19.84. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 1.08.

Scorpio Tankers (NYSE:STNGGet Rating) last announced its earnings results on Thursday, April 28th. The shipping company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.58) by $0.31. Scorpio Tankers had a negative return on equity of 10.00% and a negative net margin of 44.17%. The business had revenue of $174.00 million during the quarter, compared to analyst estimates of $158.43 million. During the same quarter in the previous year, the business earned ($1.05) earnings per share. The company’s revenue for the quarter was up 29.7% compared to the same quarter last year. On average, equities analysts predict that Scorpio Tankers will post 2.94 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Friday, May 20th were issued a $0.10 dividend. The ex-dividend date was Thursday, May 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.20%. Scorpio Tankers’s payout ratio is -8.58%.

STNG has been the subject of a number of analyst reports. Jefferies Financial Group started coverage on Scorpio Tankers in a research report on Wednesday, April 27th. They set a “buy” rating and a $27.00 price objective for the company. BTIG Research increased their target price on Scorpio Tankers from $31.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, June 2nd. B. Riley increased their target price on Scorpio Tankers from $35.00 to $45.00 in a research note on Wednesday, June 1st. HC Wainwright increased their target price on Scorpio Tankers from $28.00 to $38.00 in a research note on Friday, April 29th. Finally, StockNews.com upgraded Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Thursday, April 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $28.81.

About Scorpio Tankers (Get Rating)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 18, 2022, the company's fleet consisted of 124 owned, finance leased, or bareboat chartered-in tankers, including 42 LR2, 6 LR1, 62 MR, and 14 Handymax with a weighted average age of approximately 6.2 years.

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