Scorpio Tankers (NYSE:STNG) Stock Price Down 3.1% - Here's Why

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) fell 3.1% on Monday . The stock traded as low as $34.30 and last traded at $34.58. Approximately 63,279 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 881,688 shares. The stock had previously closed at $35.69.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STNG. Jefferies Financial Group reiterated a "buy" rating and set a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus cut their price objective on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $68.75.

Scorpio Tankers Trading Up 3.4 %

The business has a 50-day moving average of $38.99 and a 200-day moving average of $49.36. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 2.71 and a beta of -0.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.39 and a current ratio of 2.43.

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 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%. As a group, research analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is presently 12.27%.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in Scorpio Tankers by 204.1% in 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 during the last quarter. Lindbrook Capital LLC boosted its position in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares in the last quarter. Covestor Ltd lifted its stake in Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock valued at $41,000 after purchasing an additional 770 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Scorpio Tankers by 40.1% during 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 in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Scorpio Tankers by 850.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company's stock valued at $49,000 after buying an additional 876 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

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.