Scorpio Tankers Inc. (NASDAQ:STNG) received a $8.00 price objective from Stifel Nicolaus in a report issued on Monday. The firm presently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 100.50% from the stock’s current price.

A number of other research analysts also recently issued reports on the company. BidaskClub upgraded Scorpio Tankers from a “strong sell” rating to a “sell” rating in a research note on Friday. Credit Suisse Group set a $7.00 target price on Scorpio Tankers and gave the stock a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “buy” rating and set a $5.50 target price (down from $6.00) on shares of Scorpio Tankers in a research note on Saturday, July 22nd. Seaport Global Securities restated a “buy” rating and set a $7.50 target price on shares of Scorpio Tankers in a research note on Thursday, May 25th. Finally, Bank of America Corporation upgraded Scorpio Tankers from an “underperform” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Friday, May 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $6.44.

Shares of Scorpio Tankers (NASDAQ STNG) traded up 2.05% during trading on Monday, hitting $3.99. The company had a trading volume of 4,403,328 shares. The company’s 50 day moving average is $3.63 and its 200 day moving average is $3.95. The firm’s market capitalization is $649.22 million. Scorpio Tankers has a 1-year low of $3.20 and a 1-year high of $5.33.

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A number of institutional investors have recently added to or reduced their stakes in STNG. Goldman Sachs Group Inc. boosted its position in Scorpio Tankers by 191.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,016,668 shares of the shipping company’s stock worth $4,514,000 after buying an additional 667,860 shares during the last quarter. American International Group Inc. boosted its position in Scorpio Tankers by 7.1% in the first quarter. American International Group Inc. now owns 100,667 shares of the shipping company’s stock worth $447,000 after buying an additional 6,647 shares during the last quarter. Impala Asset Management LLC acquired a new position in Scorpio Tankers during the first quarter worth $14,042,000. Norges Bank acquired a new position in Scorpio Tankers during the fourth quarter worth $2,881,000. Finally, OppenheimerFunds Inc. boosted its position in Scorpio Tankers by 54.9% in the first quarter. OppenheimerFunds Inc. now owns 62,023 shares of the shipping company’s stock worth $275,000 after buying an additional 21,986 shares during the last quarter.

About Scorpio Tankers

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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