Scorpio Tankers (NYSE:STNG) Sets New 1-Year Low – Time to Sell?

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $50.13 and last traded at $51.39, with a volume of 78508 shares changing hands. The stock had previously closed at $51.21.

Wall Street Analyst Weigh In

STNG has been the subject of several research reports. Jefferies Financial Group cut their price target on Scorpio Tankers from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Bank of America reduced their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. StockNews.com downgraded Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, Evercore ISI cut their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Scorpio Tankers has a consensus rating of “Hold” and an average target price of $76.40.

Scorpio Tankers Stock Performance

The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 3.63 and a beta of 0.18. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock’s 50-day moving average is $62.76 and its 200-day moving average is $71.55.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 earnings per share. Analysts anticipate that Scorpio Tankers Inc. will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. increased its holdings in shares of Scorpio Tankers by 8.3% during the 3rd quarter. Franklin Resources Inc. now owns 57,293 shares of the shipping company’s stock worth $3,985,000 after buying an additional 4,407 shares during the last quarter. Tidal Investments LLC increased its stake in Scorpio Tankers by 54.3% during the third quarter. Tidal Investments LLC now owns 54,816 shares of the shipping company’s stock worth $3,908,000 after acquiring an additional 19,298 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Scorpio Tankers in the 3rd quarter worth about $68,000. Geode Capital Management LLC lifted its stake in shares of Scorpio Tankers by 5.3% in the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock valued at $54,768,000 after purchasing an additional 38,599 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

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.