Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Decreases By 15.9%

Scorpio Tankers Inc. (NYSE:STNG) was the target of a large decrease in short interest in December. As of December 31st, there was short interest totalling 3,230,000 shares, a decrease of 15.9% from the December 15th total of 3,840,000 shares. Currently, 6.6% of the shares of the stock are short sold. Based on an average trading volume of 950,400 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analyst Weigh In

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

Scorpio Tankers Trading Down 2.8 %

Scorpio Tankers stock traded down $1.52 during mid-day trading on Friday, hitting $52.90. The company’s stock had a trading volume of 1,243,587 shares, compared to its average volume of 876,410. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company has a 50 day moving average of $51.16 and a 200-day moving average of $63.67. Scorpio Tankers has a one year low of $45.94 and a one year high of $84.67. The stock has a market cap of $2.67 billion, a PE ratio of 3.79 and a beta of 0.12.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. The firm had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 earnings per share. On average, research analysts anticipate that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.02%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 11.47%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of STNG. Mountaineer Partners Management LLC increased its holdings 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 valued at $596,912,000 after buying an additional 8,252,691 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after acquiring an additional 1,857,668 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock worth $10,020,000 after acquiring an additional 181,135 shares in the last quarter. Barclays PLC lifted its stake in shares of Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after purchasing an additional 168,866 shares during the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in Scorpio Tankers during the third quarter valued at about $8,459,000. 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.