Scorpio Tankers (NYSE:STNG) Sets New 52-Week Low - Here's What Happened

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $43.31 and last traded at $43.76, with a volume of 1077917 shares changing hands. The stock had previously closed at $44.13.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed 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 cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Finally, Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Stock Performance

The company has a 50-day simple moving average of $48.94 and a two-hundred day simple moving average of $58.80. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.08 billion, a PE ratio of 3.16 and a beta of 0.08.

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 the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. As a group, equities research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

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 given a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 3.88%. Scorpio Tankers's dividend payout ratio is currently 12.27%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. LM Asset IM Inc. purchased a new position in shares of Scorpio Tankers during the 4th quarter valued at $1,988,000. Vident Advisory LLC lifted its position in shares of Scorpio Tankers by 5.8% during the 4th quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company's stock valued at $743,000 after buying an additional 818 shares during the last quarter. Sherbrooke Park Advisers LLC lifted its position in shares of Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock valued at $200,000 after buying an additional 889 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Scorpio Tankers by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 12,552 shares of the shipping company's stock valued at $624,000 after buying an additional 3,700 shares during the last quarter. Finally, Interval Partners LP purchased a new position in shares of Scorpio Tankers during the 4th quarter valued at $657,000. Hedge funds and other institutional investors 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.