Scorpio Tankers (NYSE:STNG) Reaches New 12-Month High – What’s Next?

Scorpio Tankers Inc. (NYSE:STNG)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $70.96 and last traded at $68.82, with a volume of 75506 shares trading hands. The stock had previously closed at $68.14.

Analyst Ratings Changes

A number of equities research analysts have weighed in on STNG shares. Zacks Research downgraded Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday, January 9th. Evercore set a $80.00 target price on Scorpio Tankers and gave the stock an “outperform” rating in a report on Monday, November 3rd. Finally, Jefferies Financial Group restated a “buy” rating and set a $70.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $71.00.

Scorpio Tankers Stock Up 1.6%

The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 11.72 and a beta of -0.25. The company has a quick ratio of 4.75, a current ratio of 4.81 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $56.51 and a 200-day moving average price of $55.67.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently bought and sold shares of STNG. Marex Group plc acquired a new position in Scorpio Tankers in the 2nd quarter worth approximately $901,000. Federated Hermes Inc. raised its stake in Scorpio Tankers by 234.1% during the 3rd quarter. Federated Hermes Inc. now owns 38,524 shares of the shipping company’s stock valued at $2,159,000 after purchasing an additional 26,994 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Scorpio Tankers in the third quarter valued at $2,242,000. Moody Aldrich Partners LLC lifted its holdings in shares of Scorpio Tankers by 84.5% in the third quarter. Moody Aldrich Partners LLC now owns 120,862 shares of the shipping company’s stock valued at $6,774,000 after purchasing an additional 55,360 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Scorpio Tankers by 135.9% in the second quarter. Boston Partners now owns 125,435 shares of the shipping company’s stock worth $4,908,000 after buying an additional 72,258 shares during the period. 54.64% of the stock is owned by hedge funds and other institutional investors.

About Scorpio Tankers

Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.

The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.