Scorpio Tankers (NYSE:STNG) Trading Down 3.1% – Here’s Why

Shares of Scorpio Tankers Inc. (NYSE:STNG) traded down 3.1% on Monday . The stock traded as low as $34.30 and last traded at $34.58. 63,279 shares were traded during trading, a decline of 93% from the average session volume of 881,688 shares. The stock had previously closed at $35.69.

Analyst Ratings Changes

Several equities research analysts have commented on STNG shares. Jefferies Financial Group restated a “buy” rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Price Performance

The stock has a 50-day moving average price of $39.50 and a 200 day moving average price of $49.72. The firm has a market capitalization of $1.68 billion, a PE ratio of 2.58 and a beta of -0.01. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

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

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.76%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 12.27%.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently made changes to their positions in the company. FMR LLC raised its stake in Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after purchasing an additional 1,899,981 shares during the last quarter. Cooper Creek Partners Management LLC raised its position in shares of Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after buying an additional 1,738,190 shares during the last quarter. Norges Bank purchased a new position in shares of Scorpio Tankers in the fourth quarter worth about $30,374,000. Vanguard Group Inc. lifted its stake in shares of Scorpio Tankers by 22.3% in the fourth quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after buying an additional 458,120 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Scorpio Tankers during the fourth quarter worth about $14,426,000. 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.