Scorpio Tankers Inc. (NYSE:STNG) Short Interest Up 26.1% in February

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 2,950,000 shares, a growth of 26.1% from the January 31st total of 2,340,000 shares. Approximately 6.4% of the company's stock are sold short. Based on an average trading volume of 978,100 shares, the short-interest ratio is presently 3.0 days.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently bought and sold shares of the business. LM Asset IM Inc. bought a new stake in Scorpio Tankers in the 4th quarter worth about $1,988,000. Vident Advisory LLC increased its position in Scorpio Tankers by 5.8% during the fourth quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company's stock valued at $743,000 after acquiring an additional 818 shares during the last quarter. Sherbrooke Park Advisers LLC lifted its holdings in Scorpio Tankers by 28.3% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock valued at $200,000 after acquiring an additional 889 shares during the period. ProShare Advisors LLC boosted its position in Scorpio Tankers by 41.8% in the fourth quarter. ProShare Advisors LLC now owns 12,552 shares of the shipping company's stock worth $624,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Interval Partners LP purchased a new position in Scorpio Tankers in the fourth quarter worth about $657,000. 54.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

STNG has been the subject of several research reports. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday, February 13th. Stifel Nicolaus decreased their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating for the company in a research note on Friday, February 14th. Four 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, the stock presently has an average rating of "Hold" and a consensus price target of $68.75.

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Scorpio Tankers Stock Down 0.7 %

NYSE:STNG traded down $0.28 on Friday, reaching $39.74. 759,291 shares of the stock traded hands, compared to its average volume of 1,054,018. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 3.05 and a beta of 0.01. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25. Scorpio Tankers has a 12 month low of $38.03 and a 12 month high of $84.67. The company's fifty day simple moving average is $47.11 and its 200 day simple moving average is $56.14.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released 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%. Equities analysts predict that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.03%. Scorpio Tankers's payout ratio is 12.27%.

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.