Scorpio Tankers (NYSE:STNG) Raised to Hold at Fearnley Fonds

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

A number of other equities analysts have also weighed in on the stock. Evercore ISI upped their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. StockNews.com cut shares of Scorpio Tankers from a buy rating to a hold rating in a report on Friday, August 16th. Stifel Nicolaus upped their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a buy rating in a report on Wednesday, July 24th. Jefferies Financial Group reaffirmed a buy rating and issued a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Finally, Bank of America dropped their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a neutral rating on the stock in a report 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 stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $88.80.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock opened at $71.30 on Friday. Scorpio Tankers has a fifty-two week low of $47.88 and a fifty-two week high of $84.67. The firm has a market cap of $3.89 billion, a P/E ratio of 6.61, a P/E/G ratio of 1.94 and a beta of 0.16. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The firm has a 50 day simple moving average of $71.66 and a 200 day simple moving average of $74.63.

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

Scorpio Tankers Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Scorpio Tankers during the second quarter worth approximately $135,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in shares of Scorpio Tankers during the second quarter worth approximately $799,000. Cetera Investment Advisers increased its holdings in shares of Scorpio Tankers by 1.6% during the second quarter. Cetera Investment Advisers now owns 29,909 shares of the shipping company’s stock worth $2,431,000 after purchasing an additional 459 shares during the period. Finally, Truist Financial Corp increased its holdings in shares of Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after purchasing an additional 149 shares during the period. 54.64% of the stock is owned by institutional investors.

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.