Scorpio Tankers’ (STNG) “Buy” Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group reaffirmed their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a research report report published on Thursday morning,Benzinga reports. Jefferies Financial Group currently has a $75.00 price target on the shipping company’s stock.

A number of other equities analysts also recently weighed in on STNG. Bank of America dropped their target price on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and cut their target price for the stock from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Finally, Evercore ISI lowered their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Down 1.2 %

Shares of NYSE:STNG opened at $44.13 on Thursday. The firm has a 50 day simple moving average of $49.33 and a 200 day simple moving average of $59.59. Scorpio Tankers has a 52 week low of $43.32 and a 52 week high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company has a market cap of $2.23 billion, a PE ratio of 3.16 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. As a group, research analysts expect that Scorpio Tankers will post 9.88 earnings per share for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Friday, March 7th. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers in the third quarter worth $28,000. GAMMA Investing LLC lifted its position in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after buying an additional 402 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Scorpio Tankers by 75.8% during the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after acquiring an additional 263 shares in the last quarter. Covestor Ltd increased its holdings in shares of Scorpio Tankers by 1,375.0% during the 4th quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock valued at $41,000 after acquiring an additional 770 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after acquiring an additional 266 shares in the last quarter. 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.