Scorpio Tankers (NYSE:STNG) Sets New 52-Week High After Analyst Upgrade

Scorpio Tankers Inc. (NYSE:STNG) reached a new 52-week high during 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. The stock had previously closed at $64.50.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Evercore ISI set a $80.00 price objective on shares of Scorpio Tankers and gave the company an “outperform” rating in a report on Monday, November 3rd. Zacks Research cut shares of Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $70.00 target price on shares of Scorpio Tankers in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $71.00.

Institutional Investors Weigh In On Scorpio Tankers

A number of hedge funds have recently bought and sold shares of STNG. Marex Group plc purchased a new position in Scorpio Tankers during the second quarter worth $901,000. Moody Aldrich Partners LLC raised its holdings in shares of Scorpio Tankers by 84.5% in the third quarter. Moody Aldrich Partners LLC now owns 120,862 shares of the shipping company’s stock worth $6,774,000 after buying an additional 55,360 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Scorpio Tankers during the third quarter worth $2,242,000. Allworth Financial LP lifted its holdings in Scorpio Tankers by 1,954.8% during the 2nd quarter. Allworth Financial LP now owns 10,870 shares of the shipping company’s stock valued at $425,000 after buying an additional 10,341 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Scorpio Tankers by 135.9% during the second quarter. Boston Partners now owns 125,435 shares of the shipping company’s stock valued at $4,908,000 after acquiring an additional 72,258 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 1.6%

The company has a current ratio of 4.81, a quick ratio of 4.75 and a debt-to-equity ratio of 0.25. The stock has a 50-day simple moving average of $55.65 and a two-hundred day simple moving average of $54.93. The firm has a market capitalization of $3.34 billion, a P/E ratio of 11.10 and a beta of -0.25.

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.