Scorpio Tankers (NYSE:STNG) Price Target Raised to $80.00 at BTIG Research

Scorpio Tankers (NYSE:STNG) had its target price raised by BTIG Research from $75.00 to $80.00 in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the shipping company’s stock.

Several other brokerages have also issued reports on STNG. Zacks Research lowered Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. B. Riley restated a “buy” rating and set a $80.00 price objective (up from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Bank of America downgraded shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Finally, Evercore ISI set a $80.00 price objective on shares of Scorpio Tankers and gave the company an “outperform” rating in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Scorpio Tankers has a consensus rating of “Hold” and an average price target of $71.00.

Scorpio Tankers Stock Performance

NYSE STNG opened at $64.95 on Wednesday. The company’s fifty day moving average is $55.52 and its two-hundred day moving average is $54.86. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 10.99 and a beta of -0.25. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75. Scorpio Tankers has a 52-week low of $30.63 and a 52-week high of $65.52.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in STNG. SBI Securities Co. Ltd. boosted its stake in shares of Scorpio Tankers by 1,708.7% in the 4th quarter. SBI Securities Co. Ltd. now owns 8,483 shares of the shipping company’s stock valued at $431,000 after purchasing an additional 8,014 shares in the last quarter. Strs Ohio lifted its holdings in Scorpio Tankers by 92.6% during the 4th quarter. Strs Ohio now owns 18,100 shares of the shipping company’s stock valued at $920,000 after purchasing an additional 8,700 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Scorpio Tankers during the 4th quarter valued at about $102,000. Ruffer LLP acquired a new position in Scorpio Tankers in the fourth quarter valued at about $4,374,000. Finally, Ticino Wealth bought a new stake in Scorpio Tankers during the fourth quarter worth about $9,526,000. 54.64% of the stock is owned by 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.