Scorpio Tankers (NYSE:STNG) Stock Keeps Buy Rating at BTIG Research

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a note issued to investors on Wednesday, Benzinga reports. They currently have a $110.00 price target on the shipping company’s stock. BTIG Research‘s target price would indicate a potential upside of 24.39% from the stock’s current price.

Several other analysts have also recently weighed in on STNG. Bank of America reissued an “underperform” rating on shares of Scorpio Tankers in a report on Tuesday, September 8th. Wall Street Zen cut shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. Jefferies Financial Group reissued a “buy” rating and set a $100.00 price target on shares of Scorpio Tankers in a research note on Tuesday, August 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, September 14th. Finally, Morgan Stanley increased their price target on Scorpio Tankers from $76.00 to $90.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Five investment 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’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.57.

Scorpio Tankers Trading Up 3.6%

NYSE:STNG traded up $3.10 during trading hours on Wednesday, hitting $88.43. 982,914 shares of the stock were exchanged, compared to its average volume of 1,046,634. The company has a market capitalization of $4.46 billion, a P/E ratio of 5.52 and a beta of -0.17. The company has a quick ratio of 6.89, a current ratio of 6.93 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $82.91 and its two-hundred day moving average is $76.25. Scorpio Tankers has a twelve month low of $48.93 and a twelve month high of $92.75.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, October 29th. The shipping company reported $2.49 EPS for the quarter, beating the consensus estimate of $2.06 by $0.43. The company had revenue of $266.47 million during the quarter, compared to analysts’ expectations of $243.98 million. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the firm earned $1.49 EPS. On average, sell-side analysts anticipate that Scorpio Tankers will post 11.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Auste Adelborg sold 6,834 shares of Scorpio Tankers stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $89.64, for a total transaction of $612,599.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Christopher Avella sold 56,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $86.57, for a total transaction of $4,891,205.00. Following the transaction, the chief financial officer owned 178,834 shares of the company’s stock, valued at approximately $15,481,659.38. This represents a 24.01% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 420,133 shares of company stock valued at $36,611,311. Insiders own 7.34% of the company’s stock.

Institutional Trading of Scorpio Tankers

Large investors have recently made changes to their positions in the company. Assetmark Inc. bought a new position in Scorpio Tankers during the first quarter worth about $28,000. Root Financial Partners LLC increased its holdings in shares of Scorpio Tankers by 193.9% in the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock worth $39,000 after acquiring an additional 347 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in shares of Scorpio Tankers in the second quarter worth about $48,000. Farther Finance Advisors LLC raised its position in shares of Scorpio Tankers by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 579 shares of the shipping company’s stock worth $48,000 after purchasing an additional 150 shares during the period. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Scorpio Tankers during the second quarter worth about $92,000. Institutional investors own 54.64% of the company’s stock.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as petrochemical feedstocks and other liquid products.

Its fleet has historically included medium-range, handymax and long-range product tankers, allowing Scorpio Tankers to serve both regional and long-haul trade routes. The company’s vessels transport cargoes between major refining, storage and consumption centers across international markets, supporting energy companies, commodity traders and other commercial customers.

Scorpio Tankers was established in 2009 and is incorporated in the Marshall Islands, with corporate operations based in Monaco.