Scorpio Tankers (NYSE:STNG) Reaches New 52-Week High – Should You Buy?

Scorpio Tankers Inc. (NYSE:STNG)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $70.96 and last traded at $68.82, with a volume of 75506 shares trading hands. The stock had previously closed at $68.14.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on STNG shares. Bank of America lowered Scorpio Tankers from a “buy” rating to an “underperform” rating in a research report on Friday, January 9th. Evercore set a $80.00 price target on shares of Scorpio Tankers and gave the stock an “outperform” rating in a report on Monday, November 3rd. B. Riley Financial reaffirmed 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. Zacks Research lowered shares of Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. Finally, Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.00.

Scorpio Tankers Stock Up 1.6%

The stock has a market cap of $3.53 billion, a price-to-earnings ratio of 11.72 and a beta of -0.25. The business has a fifty day moving average of $56.51 and a 200 day moving average of $55.67. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Scorpio Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,500 shares of the shipping company’s stock worth $996,000 after purchasing an additional 1,144 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of Scorpio Tankers by 9.4% in the first quarter. Intech Investment Management LLC now owns 32,478 shares of the shipping company’s stock worth $1,221,000 after buying an additional 2,802 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of Scorpio Tankers during the 2nd quarter worth about $259,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Scorpio Tankers by 105.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,908 shares of the shipping company’s stock valued at $466,000 after acquiring an additional 6,116 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Scorpio Tankers by 478.0% in the 2nd quarter. CWM LLC now owns 28,661 shares of the shipping company’s stock valued at $1,122,000 after acquiring an additional 23,702 shares in the last quarter. Institutional investors own 54.64% of the company’s stock.

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.