Analysts Set Scorpio Tankers Inc. (NYSE:STNG) Price Target at $84.17

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $84.17.

A number of analysts have recently issued reports on the stock. StockNews.com cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 price target on shares of Scorpio Tankers in a research report on Tuesday, July 30th. Evercore ISI raised their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America decreased their price target on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, Stifel Nicolaus upped their price objective on shares of Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors have recently added to or reduced their stakes in STNG. EverSource Wealth Advisors LLC increased its holdings in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after buying an additional 291 shares in the last quarter. Fifth Third Bancorp increased its holdings in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock worth $34,000 after purchasing an additional 319 shares in the last quarter. Global Retirement Partners LLC raised its position in Scorpio Tankers by 8,800.0% in the first quarter. Global Retirement Partners LLC now owns 534 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 528 shares during the last quarter. Quarry LP boosted its stake in shares of Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Scorpio Tankers during the first quarter worth about $58,000. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Price Performance

Shares of STNG opened at $73.44 on Monday. The company has a 50 day moving average of $77.47 and a 200-day moving average of $74.16. The company has a quick ratio of 2.63, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.90 billion, a P/E ratio of 6.81, a P/E/G ratio of 1.29 and a beta of 0.17. Scorpio Tankers has a twelve month low of $47.88 and a twelve month high of $84.67.

Scorpio Tankers (NYSE:STNG) last posted its quarterly earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. During the same period in the prior year, the firm posted $2.41 earnings per share. The company’s quarterly revenue was up 15.6% compared to the same quarter last year. As a group, equities research analysts forecast that Scorpio Tankers will post 13.08 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. Scorpio Tankers’s dividend payout ratio (DPR) is currently 14.84%.

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.