Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Declines By 15.9%

Scorpio Tankers Inc. (NYSE:STNG) saw a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 3,230,000 shares, a decline of 15.9% from the December 15th total of 3,840,000 shares. Based on an average daily volume of 950,400 shares, the short-interest ratio is presently 3.4 days. Currently, 6.6% of the company’s shares are sold short.

Scorpio Tankers Trading Down 3.5 %

Shares of NYSE STNG traded down $1.95 during trading on Thursday, reaching $54.53. The stock had a trading volume of 904,690 shares, compared to its average volume of 1,144,289. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company has a market cap of $2.75 billion, a P/E ratio of 3.91 and a beta of 0.12. Scorpio Tankers has a fifty-two week low of $45.94 and a fifty-two week high of $84.67. The business’s 50-day moving average price is $51.20 and its 200-day moving average price is $63.97.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The company had revenue of $267.99 million during 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%. Scorpio Tankers’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period last year, the business posted $1.91 EPS. On average, equities research analysts predict that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC increased its position in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Scorpio Tankers during the 3rd quarter worth $28,000. GAMMA Investing LLC grew its stake in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Quarry LP increased its holdings in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its position in Scorpio Tankers by 34.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares in the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on STNG. Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Evercore ISI lowered their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group cut their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $75.40.

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.