Scorpio Tankers (NYSE:STNG) Upgraded to Strong-Buy at Fearnley Fonds

Scorpio Tankers (NYSE:STNG - Get Free Report) was upgraded by equities researchers at Fearnley Fonds from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, May 6th,Zacks.com reports.

Several other research analysts have also recently weighed in on STNG. Evercore ISI decreased their price target on shares of Scorpio Tankers from $60.00 to $57.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Jefferies Financial Group restated a "buy" rating and set a $65.00 price target on shares of Scorpio Tankers in a research report on Thursday, May 1st. Finally, Stifel Nicolaus cut their target price on Scorpio Tankers from $51.00 to $49.00 and set a "hold" rating on the stock in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $60.50.

Scorpio Tankers Price Performance

Shares of NYSE STNG traded down $0.16 during mid-day trading on Tuesday, hitting $41.95. 320,697 shares of the stock traded hands, compared to its average volume of 897,583. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.43 and a quick ratio of 2.39. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $84.67. The company has a market cap of $2.14 billion, a PE ratio of 3.22 and a beta of -0.12. The firm has a 50 day simple moving average of $37.53 and a two-hundred day simple moving average of $45.47.

Scorpio Tankers (NYSE:STNG - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.03 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.32. Scorpio Tankers had a return on equity of 18.01% and a net margin of 53.76%. The firm had revenue of $204.20 million during the quarter, compared to analyst estimates of $205.89 million. During the same period in the previous year, the company posted $3.97 EPS. The company's revenue for the quarter was down 45.3% on a year-over-year basis. As a group, equities research analysts forecast that Scorpio Tankers will post 5.29 EPS for the current fiscal year.

Institutional Trading of Scorpio Tankers

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its holdings in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company's stock valued at $13,418,000 after purchasing an additional 168,866 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Scorpio Tankers in the 3rd quarter valued at $68,000. Franklin Resources Inc. increased its position in shares of Scorpio Tankers by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 57,293 shares of the shipping company's stock valued at $3,985,000 after acquiring an additional 4,407 shares during the period. GAMMA Investing LLC increased its holdings in Scorpio Tankers by 204.1% in 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 during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Scorpio Tankers by 882.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 201,653 shares of the shipping company's stock valued at $10,020,000 after buying an additional 181,135 shares during the last quarter. Hedge funds and other institutional investors own 54.64% of the company's stock.

Scorpio Tankers Company Profile

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.