Scorpio Tankers Inc. (NYSE:STNG) shares traded 6.25% higher at $45.92 on Wall Street last session.
STNG stock price is now 1.66% away from the 50-day moving average and -9.80% away from the 200-day moving average. The market capitalization of the company currently stands at $2.39B.
With the price target reduced from $60 to $45, BofA Securities Downgraded its rating from Buy to Neutral for Scorpio Tankers Inc. (NYSE: STNG).
A total of 3.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in STNG stock. A new stake in Scorpio Tankers Inc. shares was purchased by RUBRIC CAPITAL MANAGEMENT LP during the first quarter worth $110,418,000. FULLER & THALER ASSET MANAGEMENT, INC. invested $7,966,000 in shares of STNG during the first quarter. In the first quarter, EA SERIES TRUST acquired a new stake in Scorpio Tankers Inc. valued at approximately $7,953,000. FOREST AVENUE CAPITAL MANAGEMENT LP acquired a new stake in STNG for approximately $6,452,000. BANK OF MONTREAL /CAN/ purchased a new stake in STNG valued at around $3,619,000 in the second quarter. In total, there are 312 active investors with 56.10% ownership of the company’s stock.
Scorpio Tankers Inc. (NYSE: STNG) opened at $43.27 on Friday. During the past 12 months, Scorpio Tankers Inc. has had a low of $37.25 and a high of $64.20. As of last week, the company has a debt-to-equity ratio of 0.80, a current ratio of 1.70, and a quick ratio of 1.70. The fifty day moving average price for STNG is $45.15 and a two-hundred day moving average price translates $50.94 for the stock.
The latest earnings results from Scorpio Tankers Inc. (NYSE: STNG) was released for Mar, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $3.31, beating analysts’ expectations of $3.25 by 0.06. This compares to -$1.52 EPS in the same period last year. The net profit margin was 51.60% and return on equity was 40.10% for STNG. The company reported revenue of $384.43 million for the quarter, compared to $174.05 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 120.88 percent. For the current quarter, analysts expect STNG to generate $348.43M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/13/2023 were paid a $0.25 dividend. On an annualized basis, this represents a $1.00 dividend and a 2.18% percent yield. There was an ex-dividend date of 06/12/2023 for this dividend. In terms of dividend payout ratio, STNG is presently at 3.00%.
Scorpio Tankers Inc.(STNG) Company Profile
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. The company was incorporated in 2009 and is headquartered in Monaco.
