Scorpio Tankers (NYSE:STNG) Given “Buy” Rating at Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Scorpio Tankers (NYSE:STNG) in a research report released on Thursday,Benzinga reports. They currently have a $75.00 price target on the shipping company’s stock.

Several other analysts have also recently issued reports on the company. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Bank of America cut their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus cut 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 research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $72.75.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $44.78 on Thursday. The company has a market capitalization of $2.26 billion, a P/E ratio of 3.21 and a beta of 0.08. Scorpio Tankers has a 1-year low of $44.00 and a 1-year high of $84.67. The firm’s 50 day simple moving average is $49.52 and its two-hundred day simple moving average is $60.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Research analysts expect that Scorpio Tankers will post 9.88 EPS for the current fiscal year.

Scorpio Tankers Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.57%. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds have recently bought and sold shares of the business. U S Global Investors Inc. raised its position in Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock valued at $253,000 after purchasing an additional 215 shares during the period. Segall Bryant & Hamill LLC raised its holdings in Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock valued at $863,000 after buying an additional 252 shares during the period. Lindbrook Capital LLC lifted its position in Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after buying an additional 263 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after buying an additional 266 shares during the last quarter. Finally, Chesapeake Capital Corp IL boosted its stake in Scorpio Tankers by 6.4% during the third quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock worth $419,000 after buying an additional 349 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

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.