Raymond James & Associates purchased a new position in shares of Scorpio Tankers Inc. (NYSE:STNG – Get Rating) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,677 shares of the shipping company's stock, valued at approximately $449,000.
Other hedge funds have also recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in Scorpio Tankers during the 2nd quarter worth about $28,000. US Bancorp DE lifted its stake in Scorpio Tankers by 38.7% during the 2nd quarter. US Bancorp DE now owns 1,082 shares of the shipping company's stock worth $37,000 after acquiring an additional 302 shares in the last quarter. Captrust Financial Advisors lifted its stake in Scorpio Tankers by 243.8% during the 2nd quarter. Captrust Financial Advisors now owns 2,255 shares of the shipping company's stock worth $78,000 after acquiring an additional 1,599 shares in the last quarter. Point72 Hong Kong Ltd lifted its stake in Scorpio Tankers by 834.0% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,279 shares of the shipping company's stock worth $79,000 after acquiring an additional 2,035 shares in the last quarter. Finally, USA Financial Portformulas Corp acquired a new position in Scorpio Tankers during the 3rd quarter worth about $92,000. Institutional investors and hedge funds own 54.53% of the company's stock.
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Analysts Set New Price Targets
STNG has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Scorpio Tankers from $52.00 to $55.00 and gave the company a "hold" rating in a research report on Thursday, January 12th. BTIG Research increased their price target on Scorpio Tankers from $60.00 to $70.00 in a research report on Friday, December 9th. Jefferies Financial Group increased their price target on Scorpio Tankers from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Wednesday, December 14th. StockNews.com raised Scorpio Tankers from a "hold" rating to a "buy" rating in a research report on Tuesday, October 18th. Finally, Stifel Nicolaus increased their price target on Scorpio Tankers from $43.00 to $50.00 and gave the company a "buy" rating in a research report on Friday, October 14th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $52.71.
Scorpio Tankers Price Performance
Shares of NYSE STNG opened at $49.19 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.54 and a current ratio of 1.54. Scorpio Tankers Inc. has a fifty-two week low of $13.69 and a fifty-two week high of $57.71. The firm has a market capitalization of $2.87 billion, a PE ratio of 9.80, a price-to-earnings-growth ratio of 0.15 and a beta of 0.50. The stock's 50-day simple moving average is $51.45 and its 200-day simple moving average is $46.52.
Scorpio Tankers (NYSE:STNG – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The shipping company reported $4.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.81 by $0.48. The firm had revenue of $456.28 million for the quarter, compared to the consensus estimate of $417.90 million. Scorpio Tankers had a return on equity of 21.04% and a net margin of 26.86%. As a group, equities research analysts forecast that Scorpio Tankers Inc. will post 12.02 EPS for the current fiscal year.
Scorpio Tankers Company Profile
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Scorpio Tankers, Inc engages in the provision of marine transportation of petroleum products. Its consists of wholly owned, finance leased, and bareboat chartered-in tankers. It operates through the following segments: MR, LR2, Handymax, and LR1. The company was founded by Emanuele A. Lauro on July 1, 2009 and is headquartered in Monaco.
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