Scorpio Tankers (NYSE:STNG) Upgraded at Wall Street Zen

Scorpio Tankers (NYSE:STNG) was upgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Saturday.

A number of other equities analysts have also commented on the stock. Dnb Carnegie lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Jefferies Financial Group assumed coverage on Scorpio Tankers in a report on Friday, April 24th. They issued a “buy” rating and a $90.00 price objective for the company. Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Bank of America raised Scorpio Tankers from an “underperform” rating to a “buy” rating and raised their target price for the stock from $76.00 to $100.00 in a research report on Thursday, May 7th. Finally, BTIG Research lifted their target price on Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.50.

Scorpio Tankers Stock Down 0.4%

Shares of NYSE STNG opened at $80.26 on Friday. The company has a 50 day simple moving average of $78.70 and a 200 day simple moving average of $69.04. The firm has a market cap of $4.05 billion, a PE ratio of 7.89 and a beta of -0.26. Scorpio Tankers has a 1 year low of $38.83 and a 1 year high of $87.39. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87.

Scorpio Tankers (NYSE:STNG) last posted its earnings results on Wednesday, May 6th. The shipping company reported $3.02 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The firm had revenue of $312.86 million for the quarter, compared to analyst estimates of $286.81 million. During the same period in the previous year, the firm posted $1.03 EPS. The company’s revenue for the quarter was up 46.2% compared to the same quarter last year. On average, research analysts forecast that Scorpio Tankers will post 11.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of STNG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Scorpio Tankers by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after buying an additional 1,144 shares during the period. Intech Investment Management LLC lifted its holdings in Scorpio Tankers by 9.4% in the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock valued at $1,221,000 after buying an additional 2,802 shares during the period. Legal & General Group Plc lifted its holdings in Scorpio Tankers by 11.2% in the second quarter. Legal & General Group Plc now owns 9,985 shares of the shipping company’s stock valued at $391,000 after buying an additional 1,005 shares during the period. EverSource Wealth Advisors LLC boosted its position in Scorpio Tankers by 593.1% during the second quarter. EverSource Wealth Advisors LLC now owns 2,807 shares of the shipping company’s stock valued at $110,000 after acquiring an additional 2,402 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Scorpio Tankers by 3.1% during the second quarter. Marshall Wace LLP now owns 151,604 shares of the shipping company’s stock valued at $5,932,000 after acquiring an additional 4,618 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.