Scorpio Tankers (NYSE:STNG) Reaches New 52-Week Low – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $37.07 and last traded at $37.53, with a volume of 66902 shares changing hands. The stock had previously closed at $38.10.

Wall Street Analyst Weigh In

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

Scorpio Tankers Trading Down 8.0 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. The company has a market capitalization of $1.72 billion, a P/E ratio of 2.64 and a beta of -0.01. The firm has a fifty day moving average price of $42.29 and a 200-day moving average price of $52.22.

Scorpio Tankers (NYSE:STNG) last announced its earnings results 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%. On average, equities research analysts anticipate that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.65%. The ex-dividend date was Friday, March 7th. Scorpio Tankers’s dividend payout ratio is 12.27%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Scorpio Tankers by 266.2% in the fourth 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 lifted its position in shares of Scorpio Tankers by 380.0% during the 4th 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 bought a new position in shares of Scorpio Tankers during the 4th quarter worth $30,374,000. Vanguard Group Inc. grew its stake in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company’s stock worth $124,786,000 after acquiring an additional 458,120 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in Scorpio Tankers in the 4th quarter worth about $14,426,000. 54.64% of the stock is owned by 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.