Scorpio Tankers Inc. (NYSE:STNG) Short Interest Down 15.9% in December

Scorpio Tankers Inc. (NYSE:STNG) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 3,230,000 shares, a decline of 15.9% from the December 15th total of 3,840,000 shares. Based on an average trading volume of 950,400 shares, the short-interest ratio is currently 3.4 days. Approximately 6.6% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lowered shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Jefferies Financial Group decreased their price target on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Bank of America lowered their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Fearnley Fonds raised Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $75.40.

Institutional Trading of Scorpio Tankers

A number of large investors have recently bought and sold shares of the business. Mountaineer Partners Management LLC increased its stake in Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Scorpio Tankers by 8,249.0% during the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock worth $134,057,000 after buying an additional 1,857,668 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Scorpio Tankers by 882.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company’s stock valued at $10,020,000 after acquiring an additional 181,135 shares during the period. Barclays PLC raised its stake in Scorpio Tankers by 873.6% during the 3rd quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after acquiring an additional 168,866 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in Scorpio Tankers during the 3rd quarter worth approximately $8,459,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Stock Performance

Shares of STNG stock traded down $1.95 during mid-day trading on Thursday, hitting $54.53. 904,690 shares of the stock were exchanged, compared to its average volume of 1,144,289. The stock’s fifty day simple moving average is $51.20 and its two-hundred day simple moving average is $63.97. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. Scorpio Tankers has a 12-month low of $45.94 and a 12-month high of $84.67. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 3.91 and a beta of 0.12.

Scorpio Tankers (NYSE:STNG) last released its quarterly earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The firm had revenue of $267.99 million for the quarter, compared to the consensus estimate of $267.91 million. During the same quarter last year, the business posted $1.91 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts forecast that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.40 dividend. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 2.93%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.47%.

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.