Scorpio Tankers (NYSE:STNG) Hits New 1-Year High at $74.34

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $74.34 and last traded at $74.20, with a volume of 118220 shares changing hands. The stock had previously closed at $72.70.

Wall Street Analyst Weigh In

STNG has been the subject of several research analyst reports. Evercore ISI boosted their price objective on Scorpio Tankers from $89.00 to $91.00 and gave the company an "outperform" rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. increased their price objective on shares of Scorpio Tankers from $85.00 to $86.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research report on Wednesday, February 14th. Finally, StockNews.com downgraded Scorpio Tankers from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $74.00.

Scorpio Tankers Stock Up 3.7 %

The firm's 50 day simple moving average is $70.60 and its 200-day simple moving average is $64.68. The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 1.27 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The shipping company reported $2.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.13. Scorpio Tankers had a return on equity of 22.86% and a net margin of 40.78%. The company had revenue of $336.30 million for the quarter, compared to analysts' expectations of $335.70 million. During the same quarter in the prior year, the business posted $4.24 EPS. The business's revenue was down 31.9% compared to the same quarter last year. Equities analysts expect that Scorpio Tankers Inc. will post 12.25 earnings per share for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Friday, March 8th were paid a $0.40 dividend. This is an increase from Scorpio Tankers's previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, March 7th. Scorpio Tankers's dividend payout ratio (DPR) is 16.10%.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors have recently bought and sold shares of STNG. Dimensional Fund Advisors LP boosted its stake in shares of Scorpio Tankers by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,760,429 shares of the shipping company's stock worth $228,634,000 after acquiring an additional 47,046 shares during the period. FMR LLC increased its holdings in shares of Scorpio Tankers by 94.4% in the third quarter. FMR LLC now owns 2,334,754 shares of the shipping company's stock valued at $126,357,000 after purchasing an additional 1,133,900 shares during the last quarter. LSV Asset Management raised its position in shares of Scorpio Tankers by 118.1% in the first quarter. LSV Asset Management now owns 1,839,185 shares of the shipping company's stock valued at $131,594,000 after purchasing an additional 995,978 shares during the period. International Assets Investment Management LLC raised its position in shares of Scorpio Tankers by 4,706.2% in the fourth quarter. International Assets Investment Management LLC now owns 970,799 shares of the shipping company's stock valued at $59,025,000 after purchasing an additional 950,600 shares during the period. Finally, Pale Fire Capital SE raised its position in shares of Scorpio Tankers by 6.0% in the third quarter. Pale Fire Capital SE now owns 779,912 shares of the shipping company's stock valued at $42,209,000 after purchasing an additional 44,162 shares during the period. Institutional investors and hedge funds 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.