Scorpio Tankers (NYSE:STNG) Stock Price Down 3.2% - Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s share price dropped 3.2% during trading on Tuesday . The company traded as low as $35.00 and last traded at $34.22. Approximately 36,646 shares changed hands during mid-day trading, a decline of 96% from the average daily volume of 875,778 shares. The stock had previously closed at $35.36.

Wall Street Analysts Forecast Growth

STNG has been the topic of a number of recent research reports. Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $68.75.

Scorpio Tankers Trading Up 7.2 %

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

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results 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%. Equities research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current year.

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Scorpio Tankers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.48%. Scorpio Tankers's payout ratio is presently 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently made changes to their positions in the business. U S Global Investors Inc. grew its position in Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company's stock valued at $253,000 after buying an additional 215 shares during the period. Lindbrook Capital LLC lifted its stake in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares during the last quarter. PNC Financial Services Group Inc. grew 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 valued at $46,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC increased its position in Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock worth $30,000 after buying an additional 402 shares during the last quarter. Finally, Ellevest Inc. raised its stake in shares of Scorpio Tankers by 8.4% in the fourth quarter. Ellevest Inc. now owns 6,278 shares of the shipping company's stock valued at $312,000 after buying an additional 485 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.