Scorpio Tankers (NYSE:STNG) Trading Up 7% - Time to Buy?

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) were up 7% on Tuesday . The company traded as high as $51.71 and last traded at $51.52. Approximately 362,962 shares were traded during trading, a decline of 49% from the average daily volume of 707,195 shares. The stock had previously closed at $48.17.

Wall Street Analyst Weigh In

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

Scorpio Tankers Trading Up 10.1 %

The firm has a market capitalization of $2.68 billion, a PE ratio of 3.80 and a beta of 0.12. The firm's 50-day simple moving average is $51.69 and its 200-day simple moving average is $65.29. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its 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 company had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The firm's revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.91 earnings per share. Equities analysts expect that Scorpio Tankers Inc. will post 11.04 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Scorpio Tankers by 12.7% during the second quarter. Principal Financial Group Inc. now owns 40,424 shares of the shipping company's stock valued at $3,286,000 after acquiring an additional 4,548 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Scorpio Tankers by 19.1% in the 2nd quarter. Victory Capital Management Inc. now owns 370,909 shares of the shipping company's stock worth $30,151,000 after purchasing an additional 59,361 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of Scorpio Tankers in the 2nd quarter worth about $439,000. Acadian Asset Management LLC boosted its stake in shares of Scorpio Tankers by 1,357.2% during the 2nd quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company's stock valued at $23,034,000 after purchasing an additional 264,049 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in shares of Scorpio Tankers by 3.5% during the second quarter. Daiwa Securities Group Inc. now owns 16,011 shares of the shipping company's stock valued at $1,302,000 after buying an additional 544 shares during the period. 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.