Scorpio Tankers (NYSE:STNG) Price Target Raised to $85.00 at BTIG Research

Scorpio Tankers (NYSE:STNG) had its price target increased by analysts at BTIG Research from $80.00 to $85.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. BTIG Research’s target price suggests a potential upside of 24.26% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group reissued a “buy” rating and set a $70.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 30th. Zacks Research cut Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Bank of America downgraded Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Evercore set a $80.00 price objective on Scorpio Tankers and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.83.

Scorpio Tankers Stock Performance

Shares of NYSE STNG traded down $1.49 during midday trading on Thursday, hitting $68.41. 560,102 shares of the stock traded hands, compared to its average volume of 1,058,437. The firm has a 50-day moving average of $56.78 and a two-hundred day moving average of $55.77. The firm has a market capitalization of $3.49 billion, a P/E ratio of 11.61 and a beta of -0.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81. Scorpio Tankers has a one year low of $30.63 and a one year high of $71.48.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, February 12th. The shipping company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.30 by $0.32. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.The firm’s quarterly revenue was up 23.8% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, equities analysts forecast that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Scorpio Tankers by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company’s stock worth $165,064,000 after purchasing an additional 7,868 shares in the last quarter. American Century Companies Inc. lifted its position in shares of Scorpio Tankers by 7.6% in the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after buying an additional 135,123 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Scorpio Tankers by 7.1% during the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock valued at $70,053,000 after buying an additional 83,294 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Scorpio Tankers by 136.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock valued at $43,394,000 after buying an additional 492,584 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Scorpio Tankers by 68.3% in 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. 54.64% of the stock is owned by hedge funds and other 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.