Scorpio Tankers’ (STNG) “Buy” Rating Reaffirmed at Jefferies Financial Group

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Financial Group in a report released on Thursday,Benzinga reports. They currently have a $75.00 price objective on the shipping company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 56.51% from the stock’s previous close.

A number of other analysts also recently issued reports on STNG. Bank of America decreased their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Finally, Evercore ISI dropped their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Four investment 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 price target of $72.75.

Scorpio Tankers Stock Down 0.5 %

Shares of NYSE:STNG opened at $47.92 on Thursday. Scorpio Tankers has a fifty-two week low of $45.43 and a fifty-two week high of $84.67. The firm’s 50 day moving average price is $49.52 and its 200 day moving average price is $60.03. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 3.44 and a beta of 0.08.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data 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%. As a group, equities research analysts predict that Scorpio Tankers will post 9.88 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

Several institutional investors and hedge funds have recently made changes to their positions in STNG. Harbor Capital Advisors Inc. purchased a new stake in Scorpio Tankers in the third quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in shares of Scorpio Tankers by 204.1% in the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 402 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Scorpio Tankers by 75.8% in the 4th quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 263 shares during the period. PNC Financial Services Group Inc. raised its position in Scorpio Tankers by 40.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Scorpio Tankers by 850.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 979 shares of the shipping company’s stock worth $49,000 after purchasing an additional 876 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.