Scorpio Tankers (NYSE:STNG) Sets New 12-Month Low - Here's Why

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s share price reached a new 52-week low during trading on Tuesday . The company traded as low as $37.80 and last traded at $37.74, with a volume of 178164 shares. The stock had previously closed at $38.45.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group restated a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $68.75.

Scorpio Tankers Price Performance

The company has a fifty day moving average of $46.44 and a 200-day moving average of $55.46. The firm has a market cap of $1.96 billion, a P/E ratio of 2.98 and a beta of 0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results 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 return on equity of 18.01% and a net margin of 53.76%. On average, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Remove Ads

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is 12.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in STNG. GAMMA Investing LLC increased its stake in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Lindbrook Capital LLC raised its position in Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after buying an additional 263 shares during the last quarter. Covestor Ltd raised its stake in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after buying an additional 770 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Scorpio Tankers by 40.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after acquiring an additional 266 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after purchasing an additional 876 shares during the period. 54.64% of the stock is currently 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.