Scorpio Tankers (NYSE:STNG) Shares Gap Down - What's Next?

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $54.42, but opened at $52.83. Scorpio Tankers shares last traded at $53.06, with a volume of 100,505 shares changing hands.

Analysts Set New Price Targets

STNG has been the subject of a number of research reports. Jefferies Financial Group reduced their price objective on Scorpio Tankers from $80.00 to $75.00 and set a "buy" rating for the company in a research note on Thursday, December 12th. Stifel Nicolaus cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating and decreased their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded shares of Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Evercore ISI decreased their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Finally, Bank of America dropped their price target on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $75.40.

Scorpio Tankers Trading Down 2.8 %

The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The business's fifty day moving average is $51.16 and its 200 day moving average is $63.67. The stock has a market cap of $2.67 billion, a PE ratio of 3.79 and a beta of 0.12.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.91 EPS. As a group, analysts predict that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.02%. Scorpio Tankers's dividend payout ratio (DPR) is currently 11.47%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STNG. Public Employees Retirement System of Ohio purchased a new stake in Scorpio Tankers during the 3rd quarter worth about $8,459,000. Mountaineer Partners Management LLC boosted its stake in shares of Scorpio Tankers by 6,926.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company's stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. Barclays PLC grew its holdings in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock worth $13,418,000 after buying an additional 168,866 shares in the last quarter. Independent Advisor Alliance acquired a new position in shares of Scorpio Tankers in the third quarter valued at approximately $2,221,000. Finally, Versor Investments LP lifted its stake in shares of Scorpio Tankers by 359.0% during the third quarter. Versor Investments LP now owns 16,803 shares of the shipping company's stock valued at $1,198,000 after buying an additional 13,142 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.