Scorpio Tankers (NYSE:STNG) Given New $60.00 Price Target at Evercore ISI

Scorpio Tankers (NYSE:STNG - Free Report) had its target price decreased by Evercore ISI from $64.00 to $60.00 in a report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an outperform rating on the shipping company's stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group reissued a "buy" rating and issued a $75.00 target price on shares of Scorpio Tankers in a report on Thursday, February 13th. Stifel Nicolaus lowered their target price on shares of Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $63.75.

Scorpio Tankers Stock Up 3.8 %

STNG stock traded up $1.35 during trading on Tuesday, hitting $37.34. 933,421 shares of the stock traded hands, compared to its average volume of 890,279. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 2.86 and a beta of -0.01. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers has a 1 year low of $30.63 and a 1 year high of $84.67. The firm's 50 day moving average is $37.78 and its two-hundred day moving average is $47.81.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The shipping company reported $0.63 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%. On average, sell-side analysts anticipate that Scorpio Tankers will post 5.29 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Friday, March 7th. Scorpio Tankers's payout ratio is 12.27%.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after acquiring an additional 402 shares during the period. Lindbrook Capital LLC grew its holdings in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company's stock valued at $30,000 after purchasing an additional 263 shares during the period. Covestor Ltd increased its position in Scorpio Tankers by 1,375.0% in the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company's stock worth $41,000 after buying an additional 770 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company's stock worth $46,000 after buying an additional 266 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Scorpio Tankers in the third quarter worth about $68,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.