Scorpio Tankers Inc. (NYSE:STNG) Receives Consensus Rating of “Moderate Buy” from Brokerages

Scorpio Tankers Inc. (NYSE:STNG) has been assigned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $74.00.

Several equities research analysts have recently weighed in on the stock. Evercore ISI boosted their target price on shares of Scorpio Tankers from $89.00 to $91.00 and gave the stock an “outperform” rating in a research report on Thursday, February 15th. StockNews.com downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 target price on shares of Scorpio Tankers in a research 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 research report on Thursday, February 1st.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in STNG. FMR LLC raised its holdings in shares of Scorpio Tankers by 94.4% in the 3rd quarter. FMR LLC now owns 2,334,754 shares of the shipping company’s stock worth $126,357,000 after purchasing an additional 1,133,900 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Scorpio Tankers by 4,706.2% in the 4th quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after purchasing an additional 950,600 shares in the last quarter. LSV Asset Management raised its holdings in shares of Scorpio Tankers by 842.0% during the fourth quarter. LSV Asset Management now owns 843,207 shares of the shipping company’s stock valued at $51,267,000 after acquiring an additional 753,699 shares during the period. Norges Bank acquired a new stake in shares of Scorpio Tankers during the fourth quarter valued at approximately $34,009,000. Finally, Millennium Management LLC raised its holdings in shares of Scorpio Tankers by 810.7% during the second quarter. Millennium Management LLC now owns 553,021 shares of the shipping company’s stock valued at $19,085,000 after acquiring an additional 492,296 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Down 1.3 %

Shares of STNG opened at $70.82 on Tuesday. The firm has a market cap of $3.76 billion, a PE ratio of 7.12 and a beta of 0.21. The company’s fifty day moving average is $69.24 and its two-hundred day moving average is $62.13. Scorpio Tankers has a fifty-two week low of $40.34 and a fifty-two week high of $74.04. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, February 14th. The shipping company reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.13. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The business had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. During the same quarter in the previous year, the business posted $4.24 EPS. The business’s quarterly revenue was down 31.9% on a year-over-year basis. Analysts forecast that Scorpio Tankers will post 12.3 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a $0.40 dividend. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, March 7th. Scorpio Tankers’s dividend payout ratio is currently 16.10%.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 23, 2023, its fleet consisted of 113 owned, finance leased, or bareboat chartered-in tankers, including 39 LR2, 60 MR, and 14 Handymax with a weighted average age of approximately 7.2 years.