Scorpio Tankers (NYSE:STNG) Shares Gap Up to $72.69

Scorpio Tankers Inc. (NYSE:STNG) gapped up prior to trading on Monday . The stock had previously closed at $72.69, but opened at $75.00. Scorpio Tankers shares last traded at $74.99, with a volume of 48,370 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Thursday, May 9th. Evercore ISI upped their price target on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an “outperform” rating in a research report on Tuesday, July 23rd. Bank of America lowered their price objective on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com upgraded shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Stifel Nicolaus increased their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Scorpio Tankers has an average rating of “Moderate Buy” and an average price target of $84.17.

Scorpio Tankers Trading Up 2.5 %

The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 6.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.16. The business’s 50 day moving average price is $79.52 and its 200-day moving average price is $73.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.60 and a quick ratio of 1.58.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Thursday, May 9th. The shipping company reported $3.97 earnings per share for the quarter, beating analysts’ consensus estimates of $3.72 by $0.25. The company had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. Scorpio Tankers had a return on equity of 22.84% and a net margin of 42.12%. Equities analysts forecast that Scorpio Tankers Inc. will post 13.09 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, June 14th. Scorpio Tankers’s payout ratio is 14.84%.

Institutional Investors Weigh In On Scorpio Tankers

Institutional investors have recently made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in Scorpio Tankers by 319.0% during the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after buying an additional 319 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Scorpio Tankers by 8,800.0% in the 1st quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock worth $38,000 after acquiring an additional 528 shares during the period. Fidelis Capital Partners LLC purchased a new position in Scorpio Tankers in the 1st quarter valued at approximately $58,000. Blue Trust Inc. increased its stake in Scorpio Tankers by 7,942.9% in the 2nd quarter. Blue Trust Inc. now owns 1,126 shares of the shipping company’s stock valued at $92,000 after purchasing an additional 1,112 shares in the last quarter. Finally, U S Global Investors Inc. raised its holdings in Scorpio Tankers by 14.5% during the fourth quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after purchasing an additional 220 shares during the last quarter. 54.64% of the stock is currently 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.