Stifel Nicolaus Cuts Scorpio Tankers (NYSE:STNG) Price Target to $49.00

Scorpio Tankers (NYSE:STNG) had its target price cut by equities research analysts at Stifel Nicolaus from $51.00 to $49.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the shipping company’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 11.77% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research note on Thursday. Bank of America cut their price target 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, Evercore ISI dropped 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $68.75.

Scorpio Tankers Stock Performance

NYSE STNG traded down $0.82 during trading hours on Friday, hitting $43.84. The company had a trading volume of 383,127 shares, compared to its average volume of 1,046,837. Scorpio Tankers has a 1-year low of $43.69 and a 1-year high of $84.67. The company has a market cap of $2.22 billion, a PE ratio of 3.14 and a beta of 0.08. The business has a 50 day moving average of $49.52 and a 200-day moving average of $60.03. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.18 and a current ratio of 2.21.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, February 12th. The shipping company reported $0.63 earnings per share 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%. As a group, equities research analysts expect that Scorpio Tankers will post 9.88 EPS for the current year.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently bought and sold shares of STNG. Mountaineer Partners Management LLC boosted its position in Scorpio Tankers by 6,926.8% during the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock worth $596,912,000 after acquiring an additional 8,252,691 shares during the last quarter. FMR LLC boosted its holdings in shares of Scorpio Tankers by 266.2% in the 4th quarter. FMR LLC now owns 2,613,611 shares of the shipping company’s stock valued at $129,870,000 after purchasing an additional 1,899,981 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after purchasing an additional 1,857,668 shares during the last quarter. Cooper Creek Partners Management LLC boosted its holdings in shares of Scorpio Tankers by 380.0% in the 4th quarter. Cooper Creek Partners Management LLC now owns 2,195,563 shares of the shipping company’s stock valued at $109,098,000 after purchasing an additional 1,738,190 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Scorpio Tankers in the 4th quarter valued at $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.