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

Scorpio Tankers Inc. (NYSE:STNG) has received a consensus rating of “Hold” from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $72.75.

A number of brokerages have recently weighed in on STNG. Bank of America lowered their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Evercore ISI lowered their price target on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group reduced their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Thursday, December 12th. Finally, Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their price objective for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently modified their holdings of STNG. Truist Financial Corp grew its position in Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after acquiring an additional 149 shares during the last quarter. Segall Bryant & Hamill LLC lifted its holdings in Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after buying an additional 252 shares in the last quarter. Chesapeake Capital Corp IL lifted its holdings in Scorpio Tankers by 6.4% during the 3rd quarter. Chesapeake Capital Corp IL now owns 5,841 shares of the shipping company’s stock worth $419,000 after buying an additional 349 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Scorpio Tankers during the 3rd quarter worth $28,000. Finally, GAMMA Investing LLC lifted its holdings in Scorpio Tankers by 204.1% during the 4th quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after buying an additional 402 shares in the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

Shares of NYSE STNG opened at $47.81 on Monday. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 3.43 and a beta of 0.12. The stock’s fifty day simple moving average is $49.91 and its 200 day simple moving average is $61.42. Scorpio Tankers has a 52-week low of $45.43 and a 52-week high of $84.67.

About Scorpio Tankers

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.