Scorpio Tankers (NYSE:STNG) Hits New 1-Year Low – Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $43.31 and last traded at $43.76, with a volume of 1077917 shares. The stock had previously closed at $44.13.

Analysts Set New Price Targets

Several analysts have recently commented on STNG shares. Evercore ISI reduced their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 price target on shares of Scorpio Tankers in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and an average price target of $68.75.

Scorpio Tankers Stock Down 1.0 %

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 stock has a market cap of $2.14 billion, a P/E ratio of 3.25 and a beta of 0.08. The stock’s fifty day simple moving average is $48.94 and its 200-day simple moving average is $58.80.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. As a group, research analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share 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. Shareholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 3.77%. Scorpio Tankers’s payout ratio is 12.27%.

Institutional Trading of Scorpio Tankers

Large investors have recently added to or reduced their stakes in the stock. Mountaineer Partners Management LLC boosted its position in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after purchasing an additional 8,252,691 shares during the period. FMR LLC grew its holdings in shares of Scorpio Tankers by 266.2% in the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after purchasing an additional 1,857,668 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in shares of Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock worth $109,098,000 after buying an additional 1,738,190 shares during the period. Finally, Norges Bank acquired a new stake in Scorpio Tankers in the 4th quarter valued at about $30,374,000. Hedge funds and other 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.