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

Shares of Scorpio Tankers Inc. (NYSE:STNG) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $43.31 and last traded at $43.76, with a volume of 1077917 shares changing hands. The stock had previously closed at $44.13.

Wall Street Analyst Weigh In

STNG has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Friday, February 14th. 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 reissued a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus price target of $68.75.

Scorpio Tankers Price Performance

The company has a quick ratio of 2.39, a current ratio of 2.43 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $2.14 billion, a P/E ratio of 3.25 and a beta of 0.08. The business’s 50 day moving average is $48.94 and its 200-day moving average is $58.80.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 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, sell-side analysts predict that Scorpio Tankers Inc. will post 5.29 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 12.27%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Assenagon Asset Management S.A. increased its position in shares of Scorpio Tankers by 882.8% during the fourth 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. Public Employees Retirement System of Ohio bought a new stake in shares of Scorpio Tankers during the third quarter worth about $8,459,000. Mountaineer Partners Management LLC increased its position in shares of 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 acquiring an additional 8,252,691 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Scorpio Tankers by 5.3% during the third quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after acquiring an additional 38,599 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Scorpio Tankers by 873.6% during the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock worth $13,418,000 after acquiring an additional 168,866 shares in the last quarter. 54.64% of the stock is owned by institutional investors.

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.