Fearnley Fonds Upgrades Scorpio Tankers (NYSE:STNG) to “Hold”

Fearnley Fonds upgraded shares of Scorpio Tankers (NYSE:STNG) to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

STNG has been the subject of several other research reports. Bank of America cut their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a neutral rating for the company in a research note on Tuesday, July 23rd. Jefferies Financial Group restated a buy rating and set a $90.00 target price on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Stifel Nicolaus boosted their price target on Scorpio Tankers from $84.00 to $86.00 and gave the company a buy rating in a report on Wednesday, July 24th. StockNews.com cut Scorpio Tankers from a buy rating to a hold rating in a report on Friday, August 16th. Finally, Evercore ISI upped their target price on Scorpio Tankers from $99.00 to $100.00 and gave the company an outperform rating in a research note on Tuesday, July 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $88.80.

Scorpio Tankers Stock Down 0.5 %

Shares of NYSE STNG opened at $71.30 on Friday. The firm’s 50-day moving average is $71.66 and its two-hundred day moving average is $74.63. The company has a market capitalization of $3.89 billion, a PE ratio of 6.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.16. Scorpio Tankers has a 12-month low of $47.88 and a 12-month high of $84.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. During the same quarter in the prior year, the firm earned $2.41 EPS. Scorpio Tankers’s quarterly revenue was up 15.6% on a year-over-year basis. Equities analysts anticipate that Scorpio Tankers will post 12.71 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.24%. Scorpio Tankers’s dividend payout ratio is presently 14.84%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STNG. Franklin Resources Inc. raised its holdings in Scorpio Tankers by 2.3% in the fourth quarter. Franklin Resources Inc. now owns 20,668 shares of the shipping company’s stock valued at $1,257,000 after buying an additional 464 shares during the period. US Bancorp DE lifted its holdings in shares of Scorpio Tankers by 11.9% during the 4th quarter. US Bancorp DE now owns 14,850 shares of the shipping company’s stock valued at $903,000 after acquiring an additional 1,580 shares in the last quarter. Hsbc Holdings PLC boosted its position in Scorpio Tankers by 74.6% during the 4th quarter. Hsbc Holdings PLC now owns 19,098 shares of the shipping company’s stock worth $1,157,000 after purchasing an additional 8,157 shares during the period. Capstone Investment Advisors LLC acquired a new stake in Scorpio Tankers in the 4th quarter valued at $217,000. Finally, KBC Group NV raised its position in Scorpio Tankers by 14.1% in the fourth quarter. KBC Group NV now owns 4,836 shares of the shipping company’s stock valued at $294,000 after purchasing an additional 596 shares during the period. Institutional investors and hedge funds 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.