Brokerages Set Scorpio Tankers Inc. (NYSE:STNG) PT at $74.00

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six ratings firms that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $74.00.

Several equities analysts recently weighed in on the stock. Jefferies Financial Group reaffirmed a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price 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 stock an "outperform" rating in a research report on Thursday, February 15th. Finally, StockNews.com cut shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in shares of Scorpio Tankers during the 4th quarter worth approximately $740,000. Vanguard Group Inc. grew 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 valued at $18,920,000 after buying an additional 19,662 shares in the last quarter. Wellington Management Group LLP purchased a new position in Scorpio Tankers in the 4th quarter valued at approximately $899,000. Twin Focus Capital Partners LLC purchased a new position in Scorpio Tankers in the 4th quarter valued at approximately $5,115,000. Finally, Price T Rowe Associates Inc. MD grew 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 valued at $729,000 after buying an additional 756 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Stock Down 2.6 %

NYSE STNG traded down $1.85 during trading hours on Tuesday, hitting $68.97. The company's stock had a trading volume of 966,615 shares, compared to its average volume of 1,228,371. Scorpio Tankers has a 52 week low of $40.34 and a 52 week high of $74.04. The company has a market capitalization of $3.66 billion, a PE ratio of 6.94 and a beta of 0.21. 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 company's 50-day simple moving average is $69.18 and its two-hundred day simple moving average is $62.24.

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

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 2.32%. This is a positive change from Scorpio Tankers's previous quarterly dividend of $0.35. Scorpio Tankers's dividend payout ratio (DPR) is presently 16.10%.

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.