Scorpio Tankers (NYSE:STNG) Raised to Strong-Buy at Wall Street Zen

Scorpio Tankers (NYSE:STNG) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

A number of other brokerages also recently weighed in on STNG. BTIG Research boosted their target price on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating and decreased their target price for the stock from $100.00 to $78.00 in a research report on Tuesday, June 30th. Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Thursday, June 18th. Finally, Jefferies Financial Group assumed coverage on Scorpio Tankers in a research note on Friday, April 24th. They issued a “buy” rating and a $90.00 price target on the stock. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $89.83.

Scorpio Tankers Stock Down 0.0%

STNG opened at $73.01 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 13.98 and a quick ratio of 13.87. The firm’s fifty day moving average price is $78.57 and its two-hundred day moving average price is $70.54. Scorpio Tankers has a fifty-two week low of $41.50 and a fifty-two week high of $87.39. The company has a market capitalization of $3.68 billion, a P/E ratio of 7.18 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.23. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The company had revenue of $312.86 million during the quarter, compared to analysts’ expectations of $286.81 million. During the same period last year, the business earned $1.03 earnings per share. The business’s revenue was up 46.2% on a year-over-year basis. On average, analysts anticipate that Scorpio Tankers will post 13.6 EPS for the current year.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently modified their holdings of STNG. Dimensional Fund Advisors LP increased its stake in Scorpio Tankers by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock worth $233,544,000 after acquiring an additional 122,874 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Scorpio Tankers by 12.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock valued at $62,166,000 after purchasing an additional 137,000 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Scorpio Tankers by 7.6% in the first quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock valued at $68,555,000 after buying an additional 64,511 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Scorpio Tankers by 68.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock worth $45,179,000 after acquiring an additional 326,973 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Scorpio Tankers by 8.8% during the third quarter. AQR Capital Management LLC now owns 699,040 shares of the shipping company’s stock worth $39,181,000 after purchasing an additional 56,367 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.