Scorpio Tankers (NYSE:STNG) Hits New 52-Week High – Should You Buy?

Scorpio Tankers Inc. (NYSE:STNG) shares reached a new 52-week high on Thursday . The company traded as high as $63.26 and last traded at $62.66, with a volume of 104983 shares traded. The stock had previously closed at $61.30.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STNG. Bank of America upped their price target on Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price target on shares of Scorpio Tankers in a report on Thursday, October 30th. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the company an “outperform” rating in a report on Monday. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Friday, October 17th. Finally, B. Riley reiterated a “buy” rating and set a $80.00 target price (up previously from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $69.00.

Scorpio Tankers Stock Up 1.1%

The firm has a fifty day moving average price of $57.11 and a 200-day moving average price of $47.58. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 10.49 and a beta of -0.07.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.10. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The business had revenue of $232.92 million for the quarter, compared to analysts’ expectations of $228.09 million. During the same quarter last year, the firm earned $1.75 earnings per share. The business’s revenue was down 9.9% on a year-over-year basis. As a group, sell-side analysts forecast that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be paid a dividend of $0.42 per share. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, November 14th. Scorpio Tankers’s payout ratio is currently 28.43%.

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Scorpio Tankers by 17.4% during the third quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company’s stock worth $65,000 after acquiring an additional 172 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Scorpio Tankers by 1.9% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company’s stock valued at $680,000 after purchasing an additional 223 shares during the period. Public Employees Retirement System of Ohio raised its position in Scorpio Tankers by 25.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock valued at $48,000 after purchasing an additional 245 shares during the period. SBI Securities Co. Ltd. raised its position in Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 246 shares during the period. Finally, GAMMA Investing LLC raised its position in Scorpio Tankers by 30.8% in the third quarter. GAMMA Investing LLC now owns 1,117 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 263 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.