Scorpio Tankers (NYSE:STNG) Stock Price Down 6% – Time to Sell?

Scorpio Tankers Inc. (NYSE:STNG) shares fell 6% on Tuesday . The company traded as low as $50.21 and last traded at $49.64. 140,566 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,068,956 shares. The stock had previously closed at $52.82.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on STNG shares. Evercore ISI lowered their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group decreased their target price on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Thursday, December 12th. Finally, Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $75.40.

Scorpio Tankers Stock Down 0.2 %

The stock has a market cap of $2.41 billion, a PE ratio of 3.42 and a beta of 0.12. The business has a 50 day moving average of $50.89 and a 200-day moving average of $63.01. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same period last year, the firm posted $1.91 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Equities research analysts predict that Scorpio Tankers Inc. will post 10.88 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.36%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in Scorpio Tankers by 970.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after buying an additional 291 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Scorpio Tankers in the third quarter valued at about $28,000. GAMMA Investing LLC increased its stake in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the period. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after acquiring an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. raised its holdings in Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares in the last quarter. 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.