Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Scorpio Tankers (NYSE:STNG) from a buy rating to a hold rating in a report published on Friday morning.

STNG has been the topic of several other reports. Jefferies Financial Group reissued a buy rating and set a $90.00 price objective on shares of Scorpio Tankers in a report on Tuesday, July 30th. Bank of America reduced their price target 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. Evercore ISI raised their price target on Scorpio Tankers from $99.00 to $100.00 and gave the stock an outperform rating in a report on Tuesday, July 23rd. Finally, Stifel Nicolaus increased 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $84.17.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG opened at $72.74 on Friday. The firm’s 50 day simple moving average is $77.30 and its 200-day simple moving average is $74.20. 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 one year low of $47.88 and a one year high of $84.67. The firm has a market cap of $3.87 billion, a PE ratio of 6.75, a price-to-earnings-growth ratio of 1.29 and a beta of 0.17.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $368.62 million. During the same period last year, the business posted $2.41 EPS. Scorpio Tankers’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, equities analysts predict that Scorpio Tankers will post 13.08 EPS for the current year.

Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Thursday, August 15th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date is Thursday, August 15th. Scorpio Tankers’s dividend payout ratio (DPR) is 14.84%.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of STNG. Epoch Investment Partners Inc. grew its position in Scorpio Tankers by 0.7% during the 4th quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock worth $1,379,000 after purchasing an additional 150 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Scorpio Tankers by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after buying an additional 171 shares during the last quarter. Quarry LP grew its holdings in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after acquiring an additional 229 shares during the period. AlphaMark Advisors LLC raised its position in Scorpio Tankers by 5.9% during the first quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after acquiring an additional 281 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

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.