Scorpio Tankers (NYSE:STNG) Stock Rating Upgraded by Fearnley Fonds

Scorpio Tankers (NYSE:STNG) was upgraded by investment analysts at Fearnley Fonds to a “hold” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

STNG has been the topic of several other reports. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research report on Friday, August 16th. Jefferies Financial Group reiterated a “buy” rating and set a $90.00 target price on shares of Scorpio Tankers in a report on Tuesday, July 30th. Evercore ISI increased their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus lifted their price target on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Bank of America cut their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.80.

Scorpio Tankers Stock Down 0.5 %

STNG opened at $71.30 on Friday. Scorpio Tankers has a 12 month low of $47.88 and a 12 month high of $84.67. The business has a 50-day moving average of $71.66 and a two-hundred day moving average of $74.63. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 2.63. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 6.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.16.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Tuesday, July 30th. The shipping company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a net margin of 47.36% and a return on equity of 23.83%. The business had revenue of $380.70 million for the quarter, compared to analysts’ expectations of $368.62 million. During the same period last year, the company earned $2.41 earnings per share. The company’s quarterly revenue was up 15.6% on a year-over-year basis. On average, research analysts expect that Scorpio Tankers will post 12.71 earnings per share for the current year.

Institutional Trading of Scorpio Tankers

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its position in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares in the last quarter. Fifth Third Bancorp boosted its stake in Scorpio Tankers by 319.0% in the second quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 319 shares during the period. Quarry LP grew its stake in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after buying an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after acquiring an additional 177 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new stake in shares of Scorpio Tankers in the 1st quarter worth about $58,000. Institutional investors own 54.64% of the company’s stock.

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.