Scorpio Tankers (NYSE:STNG) Hits New 12-Month High at $80.28

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.28 and last traded at $80.10, with a volume of 148088 shares trading hands. The stock had previously closed at $79.70.

Analyst Upgrades and Downgrades

STNG has been the topic of a number of research reports. StockNews.com raised shares of Scorpio Tankers from a "hold" rating to a "buy" rating in a report on Friday, May 10th. Bank of America increased their target price on shares of Scorpio Tankers from $76.00 to $82.00 and gave the stock a "neutral" rating in a report on Friday, May 10th. JPMorgan Chase & Co. upped their price target 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. Evercore ISI lifted their target price 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. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $80.17.

Scorpio Tankers Stock Performance

The business has a 50 day moving average of $71.96 and a 200 day moving average of $65.54. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $4.30 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 1.23 and a beta of 0.18.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its earnings results on Thursday, May 9th. The shipping company reported $3.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.72 by $0.25. Scorpio Tankers had a net margin of 42.12% and a return on equity of 22.84%. The firm had revenue of $389.76 million for the quarter, compared to analysts' expectations of $381.46 million. On average, sell-side analysts predict that Scorpio Tankers Inc. will post 11.41 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.60 annualized dividend and a yield of 1.97%. Scorpio Tankers's payout ratio is presently 14.84%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of STNG. Moody Aldrich Partners LLC lifted its stake in shares of Scorpio Tankers by 34.6% during the 4th quarter. Moody Aldrich Partners LLC now owns 123,187 shares of the shipping company's stock worth $7,490,000 after acquiring an additional 31,649 shares during the last quarter. International Assets Investment Management LLC boosted its holdings 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. DNB Asset Management AS grew its stake in Scorpio Tankers by 167.0% in the fourth quarter. DNB Asset Management AS now owns 254,839 shares of the shipping company's stock worth $15,494,000 after purchasing an additional 159,393 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Scorpio Tankers during the 4th quarter valued at $3,772,000. Finally, Hosking Partners LLP lifted its holdings in shares of Scorpio Tankers by 3.1% in the 3rd quarter. Hosking Partners LLP now owns 335,949 shares of the shipping company's stock worth $18,182,000 after buying an additional 10,232 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

About Scorpio Tankers

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.

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