Scorpio Tankers (NYSE:STNG) Sets New 52-Week High – Still a Buy?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price reached a new 52-week high during mid-day trading 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.

Analyst Ratings Changes

Several analysts have issued reports on STNG shares. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the company an “outperform” rating in a research note on Monday. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price objective on shares of Scorpio Tankers in a research note on Thursday, October 30th. 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 research report on Thursday, October 16th. Bank of America lifted their target price on shares of Scorpio Tankers from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, September 30th. Finally, Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Scorpio Tankers Stock Performance

The company has a market cap of $3.26 billion, a P/E ratio of 10.81 and a beta of -0.07. The company’s fifty day moving average is $57.64 and its 200 day moving average is $47.89. The company has a current ratio of 4.81, a quick ratio of 4.75 and a debt-to-equity ratio of 0.25.

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

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Friday, November 14th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.6%. This is a boost from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, November 14th. Scorpio Tankers’s dividend payout ratio (DPR) is 27.07%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. grew its stake in Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the period. Pinnacle Holdings LLC purchased a new stake in shares of Scorpio Tankers in the 1st quarter worth about $26,000. Spire Wealth Management grew its position in shares of Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after buying an additional 330 shares during the period. Signaturefd LLC lifted its position in Scorpio Tankers by 95.6% during the 1st quarter. Signaturefd LLC now owns 761 shares of the shipping company’s stock valued at $29,000 after acquiring an additional 372 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Scorpio Tankers by 143.8% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock valued at $31,000 after acquiring an additional 460 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.