Scorpio Tankers (NYSE:STNG) Reaches New 52-Week Low - Time to Sell?

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $37.07 and last traded at $37.53, with a volume of 66902 shares changing hands. The stock had previously closed at $38.10.

Analyst Upgrades and Downgrades

STNG has been the topic of several analyst reports. Stifel Nicolaus dropped their price target 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 issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four equities research 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 an average rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Price Performance

The business's 50-day simple moving average is $42.00 and its 200 day simple moving average is $51.72. The company has a market capitalization of $1.77 billion, a P/E ratio of 2.71 and a beta of -0.01. 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 announced its earnings results on Wednesday, February 12th. The shipping company reported $0.63 EPS 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, sell-side analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

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Scorpio Tankers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.52%. Scorpio Tankers's dividend payout ratio is currently 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in shares of Scorpio Tankers by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock worth $174,512,000 after purchasing an additional 10,854 shares in the last quarter. FMR LLC increased its holdings in shares of Scorpio Tankers by 266.2% in the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock valued at $129,870,000 after buying an additional 1,899,981 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Scorpio Tankers by 22.3% during the 4th quarter. Vanguard Group Inc. now owns 2,511,285 shares of the shipping company's stock valued at $124,786,000 after acquiring an additional 458,120 shares during the last quarter. Cooper Creek Partners Management LLC boosted its stake in shares of Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock worth $109,098,000 after acquiring an additional 1,738,190 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Scorpio Tankers by 10.9% during the 4th quarter. American Century Companies Inc. now owns 1,558,402 shares of the shipping company's stock worth $77,437,000 after acquiring an additional 153,267 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Company Profile

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.