Scorpio Tankers (NYSE:STNG) Shares Gap Up to $72.69

Scorpio Tankers Inc. (NYSE:STNG) gapped up before the market opened on Monday . The stock had previously closed at $72.69, but opened at $75.00. Scorpio Tankers shares last traded at $74.99, with a volume of 48,370 shares.

Analysts Set New Price Targets

Several equities analysts have weighed in on STNG shares. Bank of America lowered their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Stifel Nicolaus boosted their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI increased their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. StockNews.com raised shares of Scorpio Tankers from a “hold” rating to a “buy” rating in a research note on Friday, May 10th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Scorpio Tankers Stock Performance

The company has a quick ratio of 1.58, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The stock has a market cap of $4.07 billion, a P/E ratio of 6.74, a price-to-earnings-growth ratio of 1.12 and a beta of 0.16. The firm’s 50-day moving average is $79.52 and its two-hundred day moving average is $73.38.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, May 9th. The shipping company reported $3.97 EPS for the quarter, topping the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The company had revenue of $389.76 million for the quarter, compared to analyst estimates of $381.46 million. As a group, research analysts expect that Scorpio Tankers Inc. will post 13.09 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 2.15%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 14.84%.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the stock. Epoch Investment Partners Inc. boosted its position in Scorpio Tankers by 0.7% during the fourth quarter. Epoch Investment Partners Inc. now owns 22,685 shares of the shipping company’s stock worth $1,379,000 after purchasing an additional 150 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Scorpio Tankers by 1.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 13,338 shares of the shipping company’s stock worth $811,000 after buying an additional 171 shares during the last quarter. U S Global Investors Inc. boosted its holdings in shares of Scorpio Tankers by 14.5% during the 4th quarter. U S Global Investors Inc. now owns 1,741 shares of the shipping company’s stock worth $106,000 after buying an additional 220 shares during the period. AlphaMark Advisors LLC grew its stake in Scorpio Tankers by 5.9% in the 1st quarter. AlphaMark Advisors LLC now owns 5,008 shares of the shipping company’s stock valued at $358,000 after buying an additional 281 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after buying an additional 319 shares during the last quarter. Institutional investors 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.