Scorpio Tankers (NYSE:STNG) Hits New 52-Week High at $74.04

Scorpio Tankers Inc. (NYSE:STNGGet Free Report) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $74.04 and last traded at $73.69, with a volume of 191853 shares. The stock had previously closed at $72.60.

Wall Street Analyst Weigh In

STNG has been the topic of several recent research reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a research note on Wednesday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Evercore ISI boosted their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Finally, StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $74.00.

Read Our Latest Report on Scorpio Tankers

Scorpio Tankers Stock Performance

The stock has a market capitalization of $3.88 billion, a PE ratio of 7.44 and a beta of 0.21. The firm’s fifty day moving average is $69.08 and its 200-day moving average is $61.57. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37.

Scorpio Tankers (NYSE:STNGGet Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.13. The firm had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. Scorpio Tankers’s revenue was down 31.9% on a year-over-year basis. During the same period in the previous year, the firm earned $4.24 EPS. As a group, research analysts anticipate that Scorpio Tankers Inc. will post 12.3 earnings per share for the current year.

Scorpio Tankers Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were issued a $0.40 dividend. This is a positive change from Scorpio Tankers’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Thursday, March 7th. Scorpio Tankers’s payout ratio is 16.10%.

Institutional Trading of Scorpio Tankers

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new stake in Scorpio Tankers during the fourth quarter worth about $740,000. Vanguard Group Inc. increased its stake in shares of Scorpio Tankers by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 311,180 shares of the shipping company’s stock worth $18,920,000 after buying an additional 19,662 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth approximately $899,000. Twin Focus Capital Partners LLC purchased a new stake in shares of Scorpio Tankers during the fourth quarter worth approximately $5,115,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Scorpio Tankers by 6.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,988 shares of the shipping company’s stock worth $729,000 after buying an additional 756 shares during the period. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

(Get Free Report)

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 23, 2023, its fleet consisted of 113 owned, finance leased, or bareboat chartered-in tankers, including 39 LR2, 60 MR, and 14 Handymax with a weighted average age of approximately 7.2 years.

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