Scorpio Tankers Inc. (NYSE:STNG) Receives Average Recommendation of “Hold” from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have earned a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $72.75.

Several equities analysts have recently weighed in on the stock. Bank of America decreased their price target on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Jefferies Financial Group decreased their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Thursday, December 12th. Evercore ISI decreased their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus downgraded shares of Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd.

Scorpio Tankers Stock Down 3.3 %

Shares of NYSE STNG opened at $47.04 on Monday. The company’s 50-day simple moving average is $49.75 and its 200-day simple moving average is $60.89. Scorpio Tankers has a 52-week low of $45.43 and a 52-week high of $84.67. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 3.37 and a beta of 0.08. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On Scorpio Tankers

A number of institutional investors have recently bought and sold shares of the company. Truist Financial Corp raised its stake in Scorpio Tankers by 1.4% during the second quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after purchasing an additional 149 shares during the period. U S Global Investors Inc. raised its stake in Scorpio Tankers by 4.4% during the fourth quarter. U S Global Investors Inc. now owns 5,092 shares of the shipping company’s stock worth $253,000 after purchasing an additional 215 shares during the period. Segall Bryant & Hamill LLC raised its stake in Scorpio Tankers by 2.1% during the third quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after purchasing an additional 252 shares during the period. Lindbrook Capital LLC raised its stake in Scorpio Tankers by 75.8% during the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock worth $30,000 after purchasing an additional 263 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in Scorpio Tankers by 40.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock worth $46,000 after purchasing an additional 266 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.