Scorpio Tankers (NYSE:STNG) Upgraded at Fearnley Fonds

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

STNG has been the subject of several other reports. StockNews.com downgraded Scorpio Tankers from a buy rating to a hold rating in a report on Friday, August 16th. Evercore ISI lifted their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an outperform rating in a report on Tuesday, July 23rd. Jefferies Financial Group reiterated a buy rating and set a $90.00 price target on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Stifel Nicolaus raised their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a buy rating in a research report on Wednesday, July 24th. Finally, Bank of America dropped their target price on Scorpio Tankers from $85.00 to $82.00 and set a neutral rating on the stock in a research report on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Scorpio Tankers has a consensus rating of Moderate Buy and an average price target of $88.80.

Scorpio Tankers Price Performance

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

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, topping 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 company had revenue of $380.70 million during the quarter, compared to analysts’ expectations of $368.62 million. During the same period last year, the firm earned $2.41 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. On average, equities research analysts anticipate that Scorpio Tankers will post 12.71 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its position in Scorpio Tankers by 2.3% during the fourth quarter. Franklin Resources Inc. now owns 20,668 shares of the shipping company’s stock worth $1,257,000 after buying an additional 464 shares in the last quarter. US Bancorp DE raised its position in shares of Scorpio Tankers by 11.9% in the fourth quarter. US Bancorp DE now owns 14,850 shares of the shipping company’s stock valued at $903,000 after buying an additional 1,580 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Scorpio Tankers by 74.6% in the fourth quarter. Hsbc Holdings PLC now owns 19,098 shares of the shipping company’s stock valued at $1,157,000 after buying an additional 8,157 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Scorpio Tankers during the fourth quarter worth approximately $217,000. Finally, KBC Group NV boosted its position in Scorpio Tankers by 14.1% during the fourth quarter. KBC Group NV now owns 4,836 shares of the shipping company’s stock worth $294,000 after acquiring an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.