Scorpio Tankers (NYSE:STNG) Stock Price Expected to Rise, BTIG Research Analyst Says

Scorpio Tankers (NYSE:STNG) had its price objective boosted by investment analysts at BTIG Research from $75.00 to $80.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target would indicate a potential upside of 23.16% from the stock’s previous close.

Several other analysts have also recently issued reports on STNG. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday, January 9th. B. Riley reaffirmed a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the company an “outperform” rating in a research report on Monday, November 3rd. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Finally, Zacks Research lowered shares of Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.00.

Scorpio Tankers Trading Up 1.9%

Shares of STNG opened at $64.95 on Wednesday. The stock has a market capitalization of $3.31 billion, a PE ratio of 10.99 and a beta of -0.25. The company’s fifty day moving average is $55.52 and its 200 day moving average is $54.86. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81. Scorpio Tankers has a fifty-two week low of $30.63 and a fifty-two week high of $65.52.

Institutional Trading of Scorpio Tankers

A number of large investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. grew its holdings in shares of Scorpio Tankers by 110.3% in the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the last quarter. Clearstead Advisors LLC boosted its position in Scorpio Tankers by 67.9% in the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after buying an additional 205 shares during the period. Quantbot Technologies LP bought a new position in Scorpio Tankers in the 3rd quarter worth about $36,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Scorpio Tankers during the third quarter worth approximately $41,000. Finally, Spire Wealth Management increased its position in shares of Scorpio Tankers by 77.1% during the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock worth $30,000 after acquiring an additional 330 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.