Scorpio Tankers (NYSE:STNG) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Scorpio Tankers from “buy” to “strong-buy,” adding to a generally bullish analyst backdrop for the stock.
• The broader analyst consensus remains positive, with six Buy ratings and four Hold ratings; MarketBeat says the stock has a Moderate Buy consensus and an average price target of $93.17.
• Scorpio Tankers recently posted better-than-expected quarterly results, reporting EPS of $3.02 versus estimates of $2.79 and revenue of $312.86 million, while the stock traded around $84.36 after a slight pullback.

Scorpio Tankers (NYSE:STNG - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued to clients and investors on Saturday.

Several other brokerages have also recently weighed in on STNG. B. Riley Financial reaffirmed a "buy" rating on shares of Scorpio Tankers in a report on Friday, February 13th. Jefferies Financial Group started coverage on Scorpio Tankers in a research report on Friday, April 24th. They issued a "buy" rating and a $90.00 price target on the stock. Zacks Research raised Scorpio Tankers from a "strong sell" rating to a "hold" rating in a research note on Friday, February 13th. Evercore set a $96.00 price objective on shares of Scorpio Tankers in a research report on Tuesday. Finally, Bank of America upgraded shares of Scorpio Tankers from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $76.00 to $100.00 in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $93.17.

Scorpio Tankers Stock Down 0.4%

Shares of STNG opened at $84.36 on Friday. The company has a current ratio of 13.98, a quick ratio of 9.23 and a debt-to-equity ratio of 0.16. Scorpio Tankers has a 12 month low of $37.96 and a 12 month high of $87.39. The firm's 50 day moving average is $75.54 and its 200-day moving average is $65.12. The stock has a market capitalization of $4.25 billion, a PE ratio of 8.29 and a beta of -0.24.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The shipping company reported $3.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.23. The business had revenue of $312.86 million during the quarter, compared to analysts' expectations of $286.81 million. Scorpio Tankers had a return on equity of 11.72% and a net margin of 48.44%.The firm's revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 earnings per share. Equities research analysts forecast that Scorpio Tankers will post 11.44 EPS for the current year.

Hedge Funds Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in STNG. Federated Hermes Inc. boosted its position in Scorpio Tankers by 234.1% during the 3rd quarter. Federated Hermes Inc. now owns 38,524 shares of the shipping company's stock worth $2,159,000 after buying an additional 26,994 shares during the period. Dimensional Fund Advisors LP increased its position in Scorpio Tankers by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,944,875 shares of the shipping company's stock valued at $165,064,000 after acquiring an additional 7,868 shares during the period. Victory Capital Management Inc. increased its position in Scorpio Tankers by 7.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company's stock valued at $70,053,000 after acquiring an additional 83,294 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of Scorpio Tankers during the third quarter valued at $2,242,000. Finally, American Century Companies Inc. lifted its holdings in shares of Scorpio Tankers by 7.6% during the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company's stock worth $107,265,000 after purchasing an additional 135,123 shares during the period. Institutional investors own 54.64% of the company's stock.

Scorpio Tankers News Roundup

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: Bank of America upgraded Scorpio Tankers to Buy and raised its price target to $100, citing expectations that tanker rates will remain elevated. Read More
• Positive Sentiment: BTIG increased its price target on Scorpio Tankers to $100, reinforcing a more bullish Wall Street outlook. Read More
• Positive Sentiment: Zacks said Scorpio Tankers is showing strong momentum characteristics and could continue higher as earnings estimates have been revised upward. Article Title
• Positive Sentiment: The stock was also added to Zacks’ Rank #1 Strong Buy momentum and income stock lists, which may attract additional investor interest. Article Title
• Neutral Sentiment: Scorpio Tankers announced a reopening of its 1.75% convertible notes due 2031, increasing the offering to $200 million from $150 million, while also planning to repurchase about 649,427 shares. The buyback could help offset dilution, but the new notes add leverage and potential future share issuance. Article Title

About Scorpio Tankers

Scorpio Tankers Inc NYSE: STNG is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.

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