Fearnley Fonds Upgrades Scorpio Tankers (NYSE:STNG) to Hold

Scorpio Tankers (NYSE:STNG) was upgraded by equities researchers at Fearnley Fonds to a “hold” rating in a research note issued on Friday, Zacks.com reports.

Several other equities research analysts have also commented on the stock. Bank of America decreased their target price on shares of Scorpio Tankers from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Evercore ISI upped their target price on shares of Scorpio Tankers from $99.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. Stifel Nicolaus increased their target price on shares of Scorpio Tankers from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered Scorpio Tankers from a “buy” rating to a “hold” rating in a research note on Friday, August 16th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Scorpio Tankers currently has a consensus rating of “Moderate Buy” and an average price target of $88.80.

Scorpio Tankers Stock Down 0.5 %

STNG stock opened at $71.30 on Friday. The stock has a market capitalization of $3.89 billion, a PE ratio of 6.61, a price-to-earnings-growth ratio of 1.94 and a beta of 0.16. The company has a fifty day moving average of $71.66 and a 200-day moving average of $74.63. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.63 and a current ratio of 2.67. Scorpio Tankers has a one year low of $47.88 and a one year high of $84.67.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, July 30th. The shipping company reported $3.60 earnings per share for the quarter, beating analysts’ consensus estimates of $3.52 by $0.08. The company had revenue of $380.70 million for the quarter, compared to analyst estimates of $368.62 million. Scorpio Tankers had a return on equity of 23.83% and a net margin of 47.36%. The firm’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.41 EPS. As a group, analysts expect that Scorpio Tankers will post 12.71 EPS for the current year.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds have recently bought and sold shares of STNG. EverSource Wealth Advisors LLC boosted its stake in shares of Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock valued at $25,000 after acquiring an additional 291 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Scorpio Tankers by 319.0% in the 2nd quarter. Fifth Third Bancorp now owns 419 shares of the shipping company’s stock valued at $34,000 after purchasing an additional 319 shares in the last quarter. Quarry LP boosted its stake in shares of Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the last quarter. Newbridge Financial Services Group Inc. grew its holdings in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after buying an additional 177 shares in the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Scorpio Tankers in the first quarter valued at approximately $58,000. 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.