Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Grows By 26.1%

Scorpio Tankers Inc. (NYSE:STNG) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 2,950,000 shares, a growth of 26.1% from the January 31st total of 2,340,000 shares. Based on an average daily volume of 978,100 shares, the short-interest ratio is currently 3.0 days. Approximately 6.4% of the company’s stock are short sold.

Institutional Trading of Scorpio Tankers

Several hedge funds have recently bought and sold shares of STNG. U S Global Investors Inc. increased its stake in shares of Scorpio Tankers by 4.4% in the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 215 shares during the period. Segall Bryant & Hamill LLC grew its holdings in Scorpio Tankers by 2.1% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after buying an additional 252 shares in the last quarter. Lindbrook Capital LLC increased its position in Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 263 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares during the period. Finally, Chesapeake Capital Corp IL raised its stake in shares of Scorpio Tankers by 6.4% during the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock valued at $419,000 after purchasing an additional 349 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on STNG shares. Stifel Nicolaus reduced their price target on shares of Scorpio Tankers from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Stock Performance

NYSE STNG traded up $0.40 during trading hours on Friday, reaching $40.02. The company’s stock had a trading volume of 130,409 shares, compared to its average volume of 1,037,955. The stock has a market cap of $2.02 billion, a PE ratio of 3.07 and a beta of 0.01. The business has a 50-day simple moving average of $47.31 and a 200 day simple moving average of $56.47. Scorpio Tankers has a 52 week low of $38.03 and a 52 week high of $84.67. The company has a current ratio of 2.43, a quick ratio of 2.39 and a debt-to-equity ratio of 0.25.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings data 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 53.76% and a return on equity of 18.01%. Equities research analysts predict that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.00%. Scorpio Tankers’s dividend payout ratio is currently 12.27%.

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.