Scorpio Tankers (NYSE:STNG) Given New $85.00 Price Target at BTIG Research

Scorpio Tankers (NYSE:STNG) had its price objective raised by stock analysts at BTIG Research from $80.00 to $85.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target would indicate a potential upside of 24.26% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Scorpio Tankers in a research note on Thursday, October 30th. Zacks Research lowered Scorpio Tankers from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Finally, Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.83.

Scorpio Tankers Trading Down 2.1%

STNG stock traded down $1.49 during mid-day trading on Thursday, reaching $68.41. The company had a trading volume of 560,102 shares, compared to its average volume of 1,058,437. The company has a market capitalization of $3.49 billion, a PE ratio of 11.61 and a beta of -0.25. The firm has a 50 day moving average of $56.78 and a 200 day moving average of $55.77. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $71.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.32. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 23.8% compared to the same quarter last year. On average, equities analysts predict that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. increased its holdings in Scorpio Tankers by 110.3% in the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after acquiring an additional 246 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Scorpio Tankers by 1,645.2% in the 4th quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after acquiring an additional 510 shares during the last quarter. Clearstead Advisors LLC boosted its position in shares of Scorpio Tankers by 67.9% during the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after acquiring an additional 205 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Scorpio Tankers during the 4th quarter valued at approximately $29,000. Finally, Spire Wealth Management raised its holdings in Scorpio Tankers by 77.1% in the 2nd quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after buying an additional 330 shares during the period. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.