Scorpio Tankers (NYSE:STNG) Price Target Raised to $80.00

Scorpio Tankers (NYSE:STNG) had its target price boosted by BTIG Research from $75.00 to $80.00 in a report published on Wednesday morning, MarketBeat reports. The brokerage currently has a buy rating on the shipping company’s stock.

A number of other research analysts have also recently commented on STNG. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Zacks Research lowered shares of 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 note on Friday, January 9th. Moffett Nathanson upgraded shares of Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Finally, B. Riley Financial reiterated a “buy” rating and issued a $80.00 target price (up from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Scorpio Tankers currently has an average rating of “Hold” and an average price target of $71.00.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $68.57 on Wednesday. The stock’s fifty day moving average price is $56.03 and its two-hundred day moving average price is $55.18. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 11.60 and a beta of -0.25. Scorpio Tankers has a one year low of $30.63 and a one year high of $68.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STNG. Encompass Capital Advisors LLC purchased a new stake in Scorpio Tankers during the second quarter valued at about $30,890,000. Merewether Investment Management LP bought a new position in shares of Scorpio Tankers during the third quarter valued at approximately $38,471,000. Assenagon Asset Management S.A. raised its holdings in Scorpio Tankers by 136.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after purchasing an additional 492,584 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Scorpio Tankers by 68.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after buying an additional 326,973 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Scorpio Tankers by 91.9% in the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock worth $25,148,000 after acquiring an additional 307,815 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

About Scorpio Tankers

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.