Scorpio Tankers Inc. (NYSE:STNG) Short Interest Down 19.9% in January

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) was the target of a large decline in short interest in January. As of January 31st, there was short interest totalling 2,340,000 shares, a decline of 19.9% from the January 15th total of 2,920,000 shares. Approximately 4.8% of the company's shares are short sold. Based on an average daily volume of 985,100 shares, the short-interest ratio is presently 2.4 days.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors have recently made changes to their positions in STNG. U S Global Investors Inc. increased its stake in shares of Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock worth $253,000 after buying an additional 215 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in shares of Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company's stock worth $863,000 after purchasing an additional 252 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after purchasing an additional 266 shares during the last quarter. Finally, Chesapeake Capital Corp IL lifted its position in shares of Scorpio Tankers by 6.4% during the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company's stock worth $419,000 after purchasing an additional 349 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on STNG shares. Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus reduced their target price 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. 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 report on Wednesday, October 30th. Finally, Bank of America reduced their price objective on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Stock Down 2.0 %

Shares of STNG stock traded down $0.87 on Wednesday, hitting $42.91. The stock had a trading volume of 533,218 shares, compared to its average volume of 1,055,190. The stock's 50 day moving average is $49.24 and its 200-day moving average is $59.24. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 3.28 and a beta of 0.08. Scorpio Tankers has a 52-week low of $42.55 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. As a group, research analysts expect that Scorpio Tankers will post 5.41 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 3.73%. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

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.