Scorpio Tankers Inc. (NYSE:STNG) Receives $72.75 Average Price Target from Analysts

Shares of Scorpio Tankers Inc. (NYSE:STNG) have been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $72.75.

Several research analysts recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Evercore ISI reduced their target price on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Bank of America reduced their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and reduced their target price for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd.

Institutional Trading of Scorpio Tankers

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Scorpio Tankers during the third quarter valued at $28,000. GAMMA Investing LLC grew its position in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 402 shares during the period. Lindbrook Capital LLC grew its position in shares of Scorpio Tankers by 75.8% in the fourth quarter. Lindbrook Capital LLC now owns 610 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 263 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Scorpio Tankers by 40.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 929 shares of the shipping company’s stock valued at $46,000 after purchasing an additional 266 shares during the period. Finally, AM Squared Ltd acquired a new stake in shares of Scorpio Tankers in the third quarter valued at about $64,000. Institutional investors and hedge funds own 54.64% of the company’s stock.

Scorpio Tankers Trading Down 3.3 %

Shares of Scorpio Tankers stock opened at $47.04 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a fifty day moving average price of $49.75 and a 200 day moving average price of $60.89. Scorpio Tankers has a 1 year low of $45.43 and a 1 year high of $84.67. The stock has a market cap of $2.38 billion, a PE ratio of 3.37 and a beta of 0.08.

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.