Scorpio Tankers (NYSE:STNG) Sets New 1-Year Low - Here's Why

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) reached a new 52-week low on Tuesday . The stock traded as low as $40.73 and last traded at $41.99, with a volume of 1047222 shares. The stock had previously closed at $41.23.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on STNG shares. Stifel Nicolaus decreased their price target on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Jefferies Financial Group restated a "buy" rating and set a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Scorpio Tankers currently has a consensus rating of "Hold" and an average target price of $68.75.

Scorpio Tankers Stock Performance

The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 3.05 and a beta of 0.08. The firm has a 50-day simple moving average of $48.26 and a two-hundred day simple moving average of $57.67. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 EPS 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, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

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Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.02%. Scorpio Tankers's payout ratio is presently 12.27%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Mountaineer Partners Management LLC raised its holdings in Scorpio Tankers by 6,926.8% in the 3rd 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 in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Scorpio Tankers by 0.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock valued at $174,512,000 after acquiring an additional 10,854 shares during the last quarter. FMR LLC boosted 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 worth $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Vanguard Group Inc. grew its holdings in 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 last quarter. Finally, Cooper Creek Partners Management LLC grew its stake in shares of Scorpio Tankers by 380.0% during the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.