Scorpio Tankers (NYSE:STNG) Given New $49.00 Price Target at Stifel Nicolaus

Scorpio Tankers (NYSE:STNG) had its price objective cut by equities researchers at Stifel Nicolaus from $51.00 to $49.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ price target indicates a potential upside of 11.03% from the stock’s current price.

Several other brokerages also recently weighed in on STNG. Evercore ISI dropped their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Bank of America dropped their price objective on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $75.00 target price on shares of Scorpio Tankers in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.75.

Scorpio Tankers Stock Performance

STNG opened at $44.13 on Friday. The firm has a market cap of $2.23 billion, a P/E ratio of 3.16 and a beta of 0.08. Scorpio Tankers has a 52-week low of $43.32 and a 52-week 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 business’s fifty day moving average is $49.33 and its 200-day moving average is $59.59.

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

Institutional Investors Weigh In On Scorpio Tankers

Large investors have recently added to or reduced their stakes in the business. Mountaineer Partners Management LLC grew its stake in Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after acquiring an additional 8,252,691 shares during the period. FMR LLC grew its stake in Scorpio Tankers by 266.2% in the fourth quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after acquiring an additional 1,899,981 shares during the period. International Assets Investment Management LLC grew its stake in Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after acquiring an additional 1,857,668 shares during the period. Cooper Creek Partners Management LLC grew its stake in Scorpio Tankers by 380.0% in the fourth quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after acquiring an additional 1,738,190 shares during the period. Finally, Norges Bank acquired a new stake in Scorpio Tankers in the fourth quarter valued at approximately $30,374,000. 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.