Scorpio Tankers (NYSE:STNG) Sets New 52-Week High at $83.41

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $83.41 and last traded at $83.02, with a volume of 478057 shares changing hands. The stock had previously closed at $82.56.

Analyst Upgrades and Downgrades

STNG has been the topic of several research analyst reports. Jefferies Financial Group reissued a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 9th. Bank of America increased their price target on shares of Scorpio Tankers from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, June 18th. Finally, StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.67.

Scorpio Tankers Trading Up 0.5 %

The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average is $77.77 and its 200 day moving average is $70.72. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.20.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The firm had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. Equities analysts predict that Scorpio Tankers Inc. will post 12.18 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, June 14th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 14.84%.

Institutional Trading of Scorpio Tankers

Several hedge funds and other institutional investors have recently modified their holdings of STNG. Neo Ivy Capital Management bought a new stake in shares of Scorpio Tankers during the 3rd quarter worth about $27,000. Global Retirement Partners LLC boosted its holdings in shares of Scorpio Tankers by 8,800.0% during the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock worth $38,000 after buying an additional 528 shares during the period. Headinvest LLC bought a new stake in shares of Scorpio Tankers during the 3rd quarter worth about $51,000. Sunbelt Securities Inc. bought a new stake in shares of Scorpio Tankers during the 3rd quarter worth about $54,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Scorpio Tankers in the 1st quarter worth about $58,000. Institutional investors 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.