Scorpio Tankers (NYSE:STNG) Given New $100.00 Price Target at BTIG Research

Scorpio Tankers (NYSE:STNG) had its target price increased by BTIG Research from $85.00 to $100.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the shipping company’s stock. BTIG Research’s price target suggests a potential upside of 16.59% from the stock’s previous close.

Other research analysts have also issued reports about the company. Jefferies Financial Group assumed coverage on Scorpio Tankers in a research report on Friday, April 24th. They issued a “buy” rating and a $90.00 price target on the stock. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. Wall Street Zen upgraded Scorpio Tankers from a “hold” rating to a “buy” rating in a research report on Saturday, April 11th. Evercore reaffirmed an “outperform” rating and set a $93.00 price target on shares of Scorpio Tankers in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Scorpio Tankers presently has an average rating of “Moderate Buy” and an average target price of $88.00.

Scorpio Tankers Trading Up 3.0%

STNG traded up $2.50 during mid-day trading on Tuesday, reaching $85.77. The stock had a trading volume of 845,995 shares, compared to its average volume of 1,182,101. The stock has a market capitalization of $4.44 billion, a P/E ratio of 12.16 and a beta of -0.24. The company has a debt-to-equity ratio of 0.19, a quick ratio of 9.23 and a current ratio of 9.33. The firm’s fifty day simple moving average is $74.80 and its two-hundred day simple moving average is $64.52. Scorpio Tankers has a 52 week low of $37.96 and a 52 week high of $87.39.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, May 5th. The shipping company reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.73 by $0.29. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.Scorpio Tankers’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same period last year, the business posted $1.03 EPS. On average, equities analysts predict that Scorpio Tankers will post 8.79 EPS for the current year.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Scorpio Tankers by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,005,276 shares of the shipping company’s stock worth $152,757,000 after buying an additional 60,401 shares during the last quarter. American Century Companies Inc. increased its position in Scorpio Tankers by 7.6% during the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock worth $107,265,000 after buying an additional 135,123 shares during the last quarter. Victory Capital Management Inc. increased its position in Scorpio Tankers by 7.1% during the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after buying an additional 83,294 shares during the last quarter. Renaissance Technologies LLC increased its position in Scorpio Tankers by 12.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock worth $62,166,000 after buying an additional 137,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Scorpio Tankers by 7.6% during the first quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock worth $68,555,000 after buying an additional 64,511 shares during the last quarter. 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.