Wall Street Zen Upgrades Scorpio Tankers (NYSE:STNG) to “Buy”

Scorpio Tankers (NYSE:STNG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other equities analysts have also recently issued reports about the company. Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. BTIG Research increased their target price on Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Evercore reiterated an “outperform” rating and set a $83.00 target price on shares of Scorpio Tankers in a research note on Friday, February 13th. B. Riley Financial reiterated a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.50.

Scorpio Tankers Stock Performance

Shares of STNG stock opened at $74.53 on Friday. Scorpio Tankers has a 12 month low of $33.21 and a 12 month high of $81.85. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23. The firm has a market capitalization of $3.86 billion, a P/E ratio of 10.54 and a beta of -0.32. The company’s fifty day moving average price is $72.29 and its two-hundred day moving average price is $62.41.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Friday, February 13th. The shipping company reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The firm had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. During the same quarter in the previous year, the business posted $0.63 EPS. The firm’s revenue was up 23.8% compared to the same quarter last year. On average, research analysts anticipate that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently made changes to their positions in STNG. SBI Securities Co. Ltd. lifted its stake in Scorpio Tankers by 110.3% during the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the last quarter. Global Retirement Partners LLC lifted its stake in Scorpio Tankers by 1,645.2% during the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after purchasing an additional 510 shares during the last quarter. Clearstead Advisors LLC lifted its stake in Scorpio Tankers by 67.9% during the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after purchasing an additional 205 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Scorpio Tankers during the fourth quarter worth $29,000. Finally, Smartleaf Asset Management LLC lifted its stake in Scorpio Tankers by 154.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 646 shares of the shipping company’s stock worth $33,000 after purchasing an additional 392 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

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.