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

Scorpio Tankers Inc. (NYSE:STNG) shares fell 6% during trading on Tuesday . The company traded as low as $50.21 and last traded at $49.64. 140,566 shares were traded during 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 research analysts have recently weighed in on STNG shares. Evercore ISI dropped 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. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research report on Friday, September 27th. Bank of America lowered their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group cut their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. 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.com, the company currently has a consensus rating of “Hold” and an average price target of $75.40.

Scorpio Tankers Stock Down 7.8 %

The firm’s 50 day moving average is $51.13 and its 200-day moving average is $63.34. The firm has a market cap of $2.46 billion, a PE ratio of 3.49 and a beta of 0.12. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 earnings per share. As a group, equities research analysts expect that Scorpio Tankers Inc. will post 10.88 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Truist Financial Corp lifted its position in Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock valued at $889,000 after buying an additional 149 shares in the last quarter. Newbridge Financial Services Group Inc. lifted its holdings in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after acquiring an additional 177 shares in the last quarter. Quarry LP boosted its position in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the period. Segall Bryant & Hamill LLC increased its holdings in Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after purchasing an additional 252 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Scorpio Tankers by 970.0% in the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 291 shares during the period. Institutional investors and hedge funds 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.