Short Interest in Scorpio Tankers Inc. (NYSE:STNG) Rises By 25.1%

Scorpio Tankers Inc. (NYSE:STNG) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 2,740,000 shares, an increase of 25.1% from the July 15th total of 2,190,000 shares. Based on an average daily trading volume, of 822,400 shares, the days-to-cover ratio is currently 3.3 days. Currently, 5.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STNG. Stifel Nicolaus lifted their target price on Scorpio Tankers from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Evercore ISI boosted their price objective on Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Jefferies Financial Group reissued a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. StockNews.com upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Finally, Bank of America decreased their target price on Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.17.

Scorpio Tankers Stock Performance

STNG stock traded up $1.39 during mid-day trading on Thursday, hitting $74.52. 471,741 shares of the company were exchanged, compared to its average volume of 967,592. The business has a 50 day simple moving average of $77.73 and a 200-day simple moving average of $74.10. The company has a current ratio of 2.67, a quick ratio of 2.63 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $3.96 billion, a PE ratio of 6.82, a price-to-earnings-growth ratio of 1.30 and a beta of 0.17. Scorpio Tankers has a 1-year low of $47.88 and a 1-year high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $2.41 earnings per share. On average, equities analysts forecast that Scorpio Tankers will post 13.08 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 15th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.60 annualized dividend and a dividend yield of 2.15%. Scorpio Tankers’s dividend payout ratio is currently 14.84%.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in STNG. Dimensional Fund Advisors LP lifted its stake in Scorpio Tankers by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,760,429 shares of the shipping company’s stock worth $228,634,000 after purchasing an additional 47,046 shares in the last quarter. LSV Asset Management lifted its stake in Scorpio Tankers by 8.5% in the second quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company’s stock worth $162,222,000 after purchasing an additional 156,414 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Scorpio Tankers by 5.0% in the second quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after purchasing an additional 62,600 shares during the last quarter. American Century Companies Inc. increased its position in shares of Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after acquiring an additional 199,858 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Scorpio Tankers by 176.6% in the first quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company’s stock valued at $61,574,000 after acquiring an additional 549,395 shares during the period. 54.64% of the stock is owned by institutional investors.

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.