Scorpio Tankers (NYSE:STNG) Stock Rating Lowered by Stifel Nicolaus

Scorpio Tankers (NYSE:STNG - Get Free Report) was downgraded by investment analysts at Stifel Nicolaus from a "buy" rating to a "hold" rating in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $65.00 price objective on the shipping company's stock, down from their previous price objective of $90.00. Stifel Nicolaus' price objective points to a potential upside of 0.37% from the company's previous close.

STNG has been the topic of several other research reports. Evercore ISI lifted their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, July 23rd. Fearnley Fonds raised Scorpio Tankers to a "hold" rating in a research note on Friday, September 27th. Bank of America dropped their price objective on Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a report on Tuesday. StockNews.com lowered shares of Scorpio Tankers from a "buy" rating to a "hold" rating in a research report on Friday, August 16th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $90.00 price target on shares of Scorpio Tankers in a report on Tuesday, July 30th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $82.40.

Scorpio Tankers Stock Down 2.7 %

STNG stock opened at $64.76 on Wednesday. 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 company has a market cap of $3.44 billion, a price-to-earnings ratio of 5.09, a price-to-earnings-growth ratio of 1.87 and a beta of 0.15. Scorpio Tankers has a 12 month low of $52.68 and a 12 month high of $84.67. The company has a fifty day moving average price of $70.05 and a 200 day moving average price of $74.39.

Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 EPS for the quarter, beating the consensus estimate of $3.52 by $0.08. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm had revenue of $380.70 million during the quarter, compared to the consensus estimate of $368.62 million. During the same period in the prior year, the business earned $2.41 EPS. The firm's revenue was up 15.6% compared to the same quarter last year. Sell-side analysts expect that Scorpio Tankers will post 12.43 earnings per share for the current year.

Institutional Trading of Scorpio Tankers

Several institutional investors and hedge funds have recently made changes to their positions in the stock. LSV Asset Management lifted its holdings in Scorpio Tankers by 8.5% in the 2nd quarter. LSV Asset Management now owns 1,995,599 shares of the shipping company's stock valued at $162,222,000 after purchasing an additional 156,414 shares in the last quarter. International Assets Investment Management LLC boosted its position in Scorpio Tankers by 8,249.0% during the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company's stock worth $134,057,000 after acquiring an additional 1,857,668 shares during the last quarter. Renaissance Technologies LLC grew its stake in Scorpio Tankers by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company's stock worth $106,800,000 after acquiring an additional 62,600 shares during the period. American Century Companies Inc. raised its holdings in Scorpio Tankers by 20.3% in the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company's stock valued at $96,391,000 after acquiring an additional 199,858 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Scorpio Tankers by 176.6% during the 1st quarter. Vanguard Group Inc. now owns 860,575 shares of the shipping company's stock worth $61,574,000 after purchasing an additional 549,395 shares during the period. 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.