Scorpio Tankers (NYSE:STNG) Shares Gap Down - Should You Sell?

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $42.31, but opened at $40.89. Scorpio Tankers shares last traded at $40.92, with a volume of 142,363 shares trading hands.

Analyst Ratings Changes

Several analysts have weighed in on the company. Evercore ISI cut their price objective on Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. Jefferies Financial Group reaffirmed a "buy" rating and issued a $65.00 price target on shares of Scorpio Tankers in a research note on Thursday, May 1st. Finally, Fearnley Fonds raised Scorpio Tankers from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Scorpio Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $60.50.

Scorpio Tankers Stock Down 4.5%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.12 and a current ratio of 4.20. The company has a market capitalization of $2.06 billion, a PE ratio of 3.98 and a beta of -0.04. The company's 50-day moving average is $39.89 and its 200 day moving average is $42.75.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a net margin of 48.08% and a return on equity of 12.30%. The company had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. During the same period in the previous year, the business earned $3.97 EPS. The firm's revenue for the quarter was down 45.3% on a year-over-year basis. As a group, analysts anticipate that Scorpio Tankers Inc. will post 5.29 EPS for the current year.

Scorpio Tankers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.96%. The ex-dividend date was Friday, May 30th. Scorpio Tankers's dividend payout ratio is currently 15.76%.

Institutional Trading of Scorpio Tankers

Several large investors have recently modified their holdings of STNG. Dimensional Fund Advisors LP grew its stake in shares of Scorpio Tankers by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,512,074 shares of the shipping company's stock valued at $174,512,000 after acquiring an additional 10,854 shares during the period. Vanguard Group Inc. boosted its stake in shares of Scorpio Tankers by 6.7% in the first quarter. Vanguard Group Inc. now owns 2,678,503 shares of the shipping company's stock worth $100,658,000 after acquiring an additional 167,218 shares during the period. FMR LLC grew its position in shares of Scorpio Tankers by 266.2% during the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company's stock worth $129,870,000 after purchasing an additional 1,899,981 shares in the last quarter. Cooper Creek Partners Management LLC raised its stake in Scorpio Tankers by 380.0% during the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company's stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the period. Finally, American Century Companies Inc. raised its stake in Scorpio Tankers by 4.3% during the 1st quarter. American Century Companies Inc. now owns 1,625,131 shares of the shipping company's stock valued at $61,072,000 after purchasing an additional 66,729 shares during the period. Institutional investors 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.