Stifel Nicolaus Reiterates $8.00 Price Target for Scorpio Tankers Inc. (STNG)

Stifel Nicolaus set a $8.00 price target on Scorpio Tankers Inc. (NASDAQ:STNG) in a research note released on Monday, August 28th. The firm currently has a buy rating on the shipping company’s stock.

STNG has been the topic of a number of other reports. BidaskClub upgraded shares of Scorpio Tankers from a strong sell rating to a sell rating in a report on Friday, August 25th. Credit Suisse Group set a $7.00 target price on shares of Scorpio Tankers and gave the stock a buy rating in a report on Wednesday, May 24th. Jefferies Group LLC reissued a buy rating and issued a $5.50 price objective (down from $6.00) on shares of Scorpio Tankers in a research report on Saturday, July 22nd. Bank of America Corporation raised shares of Scorpio Tankers from an underperform rating to a buy rating and set a $6.00 price objective on the stock in a research report on Friday, May 12th. Finally, Seaport Global Securities reissued a buy rating and issued a $7.50 price objective on shares of Scorpio Tankers in a research report on Thursday, May 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $6.44.

Shares of Scorpio Tankers (NASDAQ:STNG) traded up 1.014% on Monday, reaching $3.485. The company had a trading volume of 135,479 shares. The stock’s 50 day moving average is $3.62 and its 200 day moving average is $3.93. Scorpio Tankers has a 52 week low of $3.20 and a 52 week high of $5.01. The firm’s market capitalization is $567.05 million.

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A number of large investors have recently modified their holdings of STNG. Principal Financial Group Inc. boosted its stake in Scorpio Tankers by 5.1% during the 2nd quarter. Principal Financial Group Inc. now owns 27,152 shares of the shipping company’s stock worth $108,000 after purchasing an additional 1,316 shares during the period. Jane Street Group LLC acquired a new stake in Scorpio Tankers during the 1st quarter worth $129,000. MML Investors Services LLC boosted its stake in Scorpio Tankers by 137.2% during the 2nd quarter. MML Investors Services LLC now owns 36,743 shares of the shipping company’s stock worth $146,000 after purchasing an additional 21,250 shares during the period. GSA Capital Partners LLP acquired a new stake in Scorpio Tankers during the 2nd quarter worth $154,000. Finally, Nisa Investment Advisors LLC acquired a new stake in Scorpio Tankers during the 1st quarter worth $158,000.

Scorpio Tankers Company Profile

Scorpio Tankers Inc (Scorpio Tankers) is engaged in the seaborne transportation of refined petroleum products in the international shipping markets. The Company operates through four segments: Handymax, MR, LR1/Panamax and LR2. As of March 15, 2017, the Company’s fleet consisted of 78 owned tankers (22 LR2, 14 Handymax and 42 MR) with a weighted average age of approximately 2.3 years, and 19 time or bareboat chartered-in tankers, which it operated (one LR2, one LR1, eight MR and nine Handymax) (collectively referred to as its Operating Fleet).

Analyst Recommendations for Scorpio Tankers (NASDAQ:STNG)

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