Scorpio Tankers (NYSE:STNG) Trading Up 6.7% - Here's What Happened

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) shot up 6.7% on Monday . The stock traded as high as $34.01 and last traded at $34.00. 192,432 shares were traded during trading, a decline of 78% from the average session volume of 870,818 shares. The stock had previously closed at $31.86.

Wall Street Analyst Weigh In

STNG has been the topic of a number of research reports. Jefferies Financial Group reissued a "buy" rating and set a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus dropped 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. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Price Performance

The business has a 50 day simple moving average of $40.10 and a 200-day simple moving average of $50.24. The company has a market capitalization of $1.78 billion, a P/E ratio of 2.74 and a beta of -0.01. The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 53.76% and a return on equity of 18.01%. Analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders 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 4.48%. Scorpio Tankers's payout ratio is 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after purchasing an additional 402 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock worth $30,000 after buying an additional 263 shares in the last quarter. Covestor Ltd boosted its holdings in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after buying an additional 770 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after buying an additional 266 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Scorpio Tankers in the third quarter valued at $68,000. 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.