Scorpio Tankers Inc. (NYSE:STNG) Receives $68.75 Consensus Target Price from Brokerages

Shares of Scorpio Tankers Inc. (NYSE:STNG) have received a consensus rating of “Hold” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $68.75.

Several research firms have issued reports on STNG. Jefferies Financial Group reaffirmed a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th.

Scorpio Tankers Trading Down 3.2 %

NYSE:STNG opened at $38.01 on Tuesday. The firm has a 50-day simple moving average of $43.55 and a 200-day simple moving average of $53.27. Scorpio Tankers has a one year low of $37.14 and a one year high of $84.67. The firm has a market cap of $1.92 billion, a P/E ratio of 2.92 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. Equities analysts anticipate that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.21%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STNG. 111 Capital purchased a new stake in shares of Scorpio Tankers in the fourth quarter worth about $238,000. LM Asset IM Inc. acquired a new position in Scorpio Tankers in the fourth quarter valued at approximately $1,988,000. Vident Advisory LLC boosted its position in Scorpio Tankers by 5.8% in the 4th quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company’s stock worth $743,000 after purchasing an additional 818 shares in the last quarter. Sherbrooke Park Advisers LLC grew its stake in shares of Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company’s stock worth $200,000 after purchasing an additional 889 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Scorpio Tankers by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 12,552 shares of the shipping company’s stock valued at $624,000 after purchasing an additional 3,700 shares in the last quarter. 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.