Jefferies Financial Group Reaffirms Buy Rating for Scorpio Tankers (NYSE:STNG)

Scorpio Tankers (NYSE:STNG)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Financial Group in a research note issued on Thursday,Benzinga reports. They presently have a $75.00 price target on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 69.94% from the stock’s previous close.

STNG has been the topic of several other research reports. Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Finally, Bank of America reduced their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Scorpio Tankers has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Down 1.2 %

Shares of STNG opened at $44.13 on Thursday. The stock has a market capitalization of $2.23 billion, a PE ratio of 3.16 and a beta of 0.08. Scorpio Tankers has a 1 year low of $43.32 and a 1 year high of $84.67. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21. The company’s 50-day simple moving average is $49.33 and its 200-day simple moving average is $59.71.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.08). Scorpio Tankers had a net margin of 52.40% and a return on equity of 22.56%. Analysts forecast that Scorpio Tankers will post 9.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new position in Scorpio Tankers in the third quarter valued at approximately $28,000. GAMMA Investing LLC grew its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after acquiring an additional 402 shares during the last quarter. Lindbrook Capital LLC grew its position in shares of 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 acquiring an additional 263 shares during the last quarter. Covestor Ltd grew its position in shares of Scorpio Tankers by 1,375.0% during the fourth quarter. Covestor Ltd now owns 826 shares of the shipping company’s stock worth $41,000 after acquiring an additional 770 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of 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 acquiring an additional 266 shares during the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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.