Fearnley Fonds Upgrades Scorpio Tankers (NYSE:STNG) to Hold

Fearnley Fonds upgraded shares of Scorpio Tankers (NYSE:STNG - Free Report) to a hold rating in a research report report published on Friday morning, Zacks.com reports.

Several other analysts also recently commented on STNG. StockNews.com downgraded Scorpio Tankers from a buy rating to a hold rating in a research note on Friday, August 16th. Bank of America cut their target price on Scorpio Tankers from $85.00 to $82.00 and set a neutral rating for the company in a research note on Tuesday, July 23rd. Evercore ISI increased their target price on Scorpio Tankers from $99.00 to $100.00 and gave the stock an outperform rating in a research note on Tuesday, July 23rd. Stifel Nicolaus increased their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a buy rating in a research note on Wednesday, July 24th. Finally, Jefferies Financial Group reissued a buy rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $88.80.

Scorpio Tankers Stock Performance

STNG traded down $0.04 on Friday, hitting $71.26. 813,223 shares of the company traded hands, compared to its average volume of 921,258. The company has a 50 day moving average of $71.53 and a 200-day moving average of $74.63. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.79 billion, a PE ratio of 6.60, a PEG ratio of 1.96 and a beta of 0.16. Scorpio Tankers has a 12-month low of $47.88 and a 12-month high of $84.67.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.52 by $0.08. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm's revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.41 EPS. Sell-side analysts anticipate that Scorpio Tankers will post 12.71 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend was Thursday, August 15th. Scorpio Tankers's dividend payout ratio (DPR) is presently 14.84%.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings 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 purchasing an additional 291 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company's stock worth $34,000 after purchasing an additional 319 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 purchasing an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after purchasing an additional 177 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Scorpio Tankers during the first quarter worth $58,000. Institutional investors and hedge funds own 54.64% of the company's stock.

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.