Scorpio Tankers (NYSE:STNG) Hits New 52-Week Low - What's Next?

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s share price hit a new 52-week low on Tuesday . The stock traded as low as $38.03 and last traded at $38.43, with a volume of 35064 shares traded. The stock had previously closed at $39.35.

Analyst Upgrades and Downgrades

A number of research analysts have commented on STNG shares. Stifel Nicolaus decreased their price target on 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 price target on shares of Scorpio Tankers in a research note on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Stock Down 0.7 %

The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 3.05 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. The business has a 50 day simple moving average of $47.11 and a 200 day simple moving average of $56.24.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts predict 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 business 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. This represents a $1.60 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, March 7th. Scorpio Tankers's payout ratio is currently 12.27%.

Institutional Trading of Scorpio Tankers

Several hedge funds have recently modified their holdings of STNG. Mountaineer Partners Management LLC raised its stake in Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock valued at $596,912,000 after buying an additional 8,252,691 shares in the last quarter. FMR LLC grew its holdings in shares of Scorpio Tankers by 266.2% during 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 during the last quarter. Cooper Creek Partners Management LLC lifted its position 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 valued at $109,098,000 after acquiring an additional 1,738,190 shares during the period. Norges Bank acquired a new stake in shares of Scorpio Tankers during the 4th quarter valued at approximately $30,374,000. Finally, 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 period. 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.