Scorpio Tankers (NYSE:STNG) Shares Gap Up – Should You Buy?

Scorpio Tankers Inc. (NYSE:STNG) shares gapped up before the market opened on Friday . The stock had previously closed at $52.39, but opened at $55.57. Scorpio Tankers shares last traded at $55.08, with a volume of 225,936 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. Evercore ISI lowered their price target 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 cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their price target for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Finally, Bank of America decreased their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $75.40.

Scorpio Tankers Stock Up 5.2 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The stock’s 50 day simple moving average is $51.33 and its two-hundred day simple moving average is $64.91. The firm has a market cap of $2.78 billion, a P/E ratio of 3.95 and a beta of 0.12.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.61 by $0.14. The company had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Scorpio Tankers’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. As a group, research analysts forecast that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.40 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 2.90%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors have recently modified their holdings of the business. Mountaineer Partners Management LLC lifted its holdings in Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after acquiring an additional 8,252,691 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after buying an additional 199,858 shares during the last quarter. Barclays PLC grew its position in Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after buying an additional 168,866 shares during the period. Finally, Public Employees Retirement System of Ohio purchased a new stake in Scorpio Tankers during the third quarter valued at approximately $8,459,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.