Scorpio Tankers Inc. (NYSE:STNG) Short Interest Update

Scorpio Tankers Inc. (NYSE:STNG) saw a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 1,570,000 shares, a decline of 16.0% from the May 31st total of 1,870,000 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average trading volume of 712,200 shares, the short-interest ratio is currently 2.2 days.

Scorpio Tankers Stock Performance

Shares of NYSE:STNG traded down $2.24 during midday trading on Friday, hitting $81.29. The company had a trading volume of 1,126,247 shares, compared to its average volume of 714,035. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.10 and a beta of 0.20. Scorpio Tankers has a 12-month low of $40.34 and a 12-month high of $84.67. The company has a fifty day moving average of $78.31 and a two-hundred day moving average of $71.13.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The business had revenue of $389.76 million during the quarter, compared to the consensus estimate of $381.46 million. On average, equities research analysts expect that Scorpio Tankers will post 12.18 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, June 14th. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Scorpio Tankers by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,760,429 shares of the shipping company’s stock valued at $228,634,000 after acquiring an additional 47,046 shares during the last quarter. LSV Asset Management lifted its stake in Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company’s stock worth $131,594,000 after purchasing an additional 995,978 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company’s stock worth $59,025,000 after purchasing an additional 950,600 shares during the last quarter. Vanguard Group Inc. lifted its stake in Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock worth $61,574,000 after purchasing an additional 549,395 shares during the last quarter. Finally, Norges Bank bought a new stake in Scorpio Tankers in the fourth quarter worth about $34,009,000. Institutional investors own 54.64% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on STNG shares. Jefferies Financial Group restated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a report on Thursday, May 9th. StockNews.com raised Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Friday, May 10th. Finally, Bank of America increased their price target on Scorpio Tankers from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, June 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

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.