Scorpio Tankers (NYSE:STNG) Reaches New 1-Year High on Analyst Upgrade

Scorpio Tankers Inc. (NYSE:STNG)’s share price hit a new 52-week high during mid-day trading on Thursday after BTIG Research raised their price target on the stock from $75.00 to $80.00. BTIG Research currently has a buy rating on the stock. Scorpio Tankers traded as high as $66.30 and last traded at $65.78, with a volume of 129044 shares changing hands. The stock had previously closed at $64.50.

Several other brokerages have also issued reports on STNG. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Bank of America lowered shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Zacks Research cut Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, B. Riley Financial reissued 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 research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Scorpio Tankers has an average rating of “Hold” and a consensus price target of $71.00.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in STNG. SBI Securities Co. Ltd. boosted its holdings in 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 stake in shares of Scorpio Tankers by 67.9% in the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Scorpio Tankers by 1,645.2% in the fourth 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 period. Quantbot Technologies LP purchased a new stake in Scorpio Tankers during the third quarter valued at $36,000. Finally, Aster Capital Management DIFC Ltd bought a new position in Scorpio Tankers in the third quarter valued at about $41,000. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Price Performance

The firm has a 50-day simple moving average of $56.03 and a 200-day simple moving average of $55.18. The firm has a market capitalization of $3.50 billion, a PE ratio of 11.60 and a beta of -0.25. 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 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.