Scorpio Tankers (NYSE:STNG) Reaches New 1-Year High at $74.04

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $74.04 and last traded at $73.69, with a volume of 191853 shares trading hands. The stock had previously closed at $72.60.

Wall Street Analysts Forecast Growth

Several brokerages have commented on STNG. Jefferies Financial Group restated a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Wednesday, February 14th. Evercore ISI raised their price target on shares of Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Scorpio Tankers from $85.00 to $86.00 and gave the company an "overweight" rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Scorpio Tankers has a consensus rating of "Moderate Buy" and an average price target of $74.00.

Scorpio Tankers Stock Up 0.9 %

The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.89 billion, a price-to-earnings ratio of 7.37 and a beta of 0.21. The stock's 50 day moving average is $69.08 and its 200 day moving average is $61.57.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.62 by $0.13. The business had revenue of $336.30 million for the quarter, compared to analyst estimates of $335.70 million. Scorpio Tankers had a net margin of 40.78% and a return on equity of 22.86%. The business's revenue for the quarter was down 31.9% on a year-over-year basis. During the same quarter last year, the business earned $4.24 earnings per share. Analysts forecast that Scorpio Tankers Inc. will post 12.3 EPS for the current year.

Scorpio Tankers Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Friday, March 8th were given a $0.40 dividend. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 2.18%. Scorpio Tankers's payout ratio is 16.10%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Quadrature Capital Ltd acquired a new position in Scorpio Tankers in the fourth quarter worth approximately $740,000. Vanguard Group Inc. boosted its stake in Scorpio Tankers by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 311,180 shares of the shipping company's stock worth $18,920,000 after purchasing an additional 19,662 shares during the period. Wellington Management Group LLP acquired a new position in Scorpio Tankers in the 4th quarter worth approximately $899,000. Twin Focus Capital Partners LLC acquired a new position in Scorpio Tankers in the 4th quarter worth approximately $5,115,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Scorpio Tankers by 6.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,988 shares of the shipping company's stock worth $729,000 after purchasing an additional 756 shares during the period. Institutional investors and hedge funds own 54.64% of the company's stock.

About Scorpio Tankers

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products in the shipping markets worldwide. As of March 23, 2023, its fleet consisted of 113 owned, finance leased, or bareboat chartered-in tankers, including 39 LR2, 60 MR, and 14 Handymax with a weighted average age of approximately 7.2 years.