Jefferies Financial Group Reaffirms Buy Rating for Scorpio Tankers (NYSE:STNG)

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reaffirmed by equities research analysts at Jefferies Financial Group in a report released on Tuesday,Benzinga reports. They currently have a $100.00 target price on the shipping company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 28.83% from the stock’s previous close.

Several other research analysts have also recently issued reports on STNG. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $100.00 to $78.00 in a research note on Tuesday, June 30th. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. BTIG Research boosted their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Evercore reiterated an “outperform” rating and issued a $94.00 price objective on shares of Scorpio Tankers in a report on Wednesday, July 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Thursday, June 18th. Five research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $89.57.

Scorpio Tankers Stock Performance

STNG opened at $77.62 on Tuesday. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $76.83 and its 200-day moving average is $74.30. The stock has a market cap of $3.91 billion, a PE ratio of 4.85 and a beta of -0.22. Scorpio Tankers has a twelve month low of $43.78 and a twelve month high of $87.39.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.95% and a net margin of 67.16%.The business had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. During the same period in the prior year, the company posted $1.41 EPS. The business’s revenue for the quarter was up 77.5% compared to the same quarter last year. On average, analysts predict that Scorpio Tankers will post 11.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in STNG. Dimensional Fund Advisors LP grew its position 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 purchasing an additional 122,874 shares in the last quarter. Renaissance Technologies LLC boosted its position in Scorpio Tankers by 12.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock worth $62,166,000 after acquiring an additional 137,000 shares during the period. Assenagon Asset Management S.A. grew its stake in Scorpio Tankers by 7.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock valued at $68,555,000 after acquiring an additional 64,511 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of 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 purchasing an additional 326,973 shares in the last quarter. Finally, AQR Capital Management LLC boosted 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 period. 54.64% of the stock is owned by hedge funds and other institutional investors.

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.