Stifel Nicolaus Cuts Scorpio Tankers (NYSE:STNG) Price Target to $49.00

Scorpio Tankers (NYSE:STNG - Get Free Report) had its price objective reduced by research analysts at Stifel Nicolaus from $51.00 to $49.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the shipping company's stock. Stifel Nicolaus' target price points to a potential upside of 11.97% from the company's current price.

STNG has been the topic of several other reports. Bank of America decreased their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. Evercore ISI decreased their price objective on shares of Scorpio Tankers from $84.00 to $80.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $75.00 price objective on shares of Scorpio Tankers in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, Scorpio Tankers has an average rating of "Hold" and a consensus price target of $68.75.

Scorpio Tankers Price Performance

Shares of NYSE:STNG traded down $0.37 on Friday, reaching $43.76. 1,077,917 shares of the company were exchanged, compared to its average volume of 1,073,652. The company has a current ratio of 2.21, a quick ratio of 2.18 and a debt-to-equity ratio of 0.27. Scorpio Tankers has a 1-year low of $43.31 and a 1-year high of $84.67. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 3.14 and a beta of 0.08. The company has a 50-day moving average of $49.24 and a 200-day moving average of $59.24.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vident Advisory LLC increased its stake in shares of Scorpio Tankers by 5.8% during the 4th quarter. Vident Advisory LLC now owns 14,955 shares of the shipping company's stock valued at $743,000 after acquiring an additional 818 shares during the last quarter. Sherbrooke Park Advisers LLC increased its stake in shares of Scorpio Tankers by 28.3% during the 4th quarter. Sherbrooke Park Advisers LLC now owns 4,035 shares of the shipping company's stock valued at $200,000 after acquiring an additional 889 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Scorpio Tankers by 41.8% during the 4th quarter. ProShare Advisors LLC now owns 12,552 shares of the shipping company's stock valued at $624,000 after acquiring an additional 3,700 shares during the last quarter. Interval Partners LP acquired a new position in shares of Scorpio Tankers during the 4th quarter valued at about $657,000. Finally, J. Goldman & Co LP acquired a new position in shares of Scorpio Tankers during the 4th quarter valued at about $9,830,000. Institutional investors and hedge funds own 54.64% of the company's stock.

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.