Scorpio Tankers Inc. (STNG) PT Set at $7.00 by Credit Suisse Group

Credit Suisse Group set a $7.00 price target on Scorpio Tankers Inc. (NASDAQ:STNG) in a report issued on Monday, July 31st. The brokerage currently has a buy rating on the shipping company’s stock.

A number of other equities analysts have also issued reports on STNG. BidaskClub lowered shares of Scorpio Tankers from a sell rating to a strong sell rating in a research report on Friday, July 28th. Stifel Nicolaus reiterated a buy rating and set a $8.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 25th. Jefferies Group LLC reiterated a buy rating and set a $6.00 target price on shares of Scorpio Tankers in a research report on Thursday, May 25th. Seaport Global Securities reiterated a buy rating and set a $7.50 target price on shares of Scorpio Tankers in a research report on Thursday, May 25th. Finally, Cowen and Company reiterated an outperform rating and set a $7.00 target price (down from $10.00) on shares of Scorpio Tankers in a research report on Thursday, April 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued 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 (STNG) opened at 3.51 on Monday. The stock’s 50 day moving average price is $3.67 and its 200-day moving average price is $3.96. Scorpio Tankers has a 12-month low of $3.20 and a 12-month high of $5.40. The company’s market cap is $571.12 million.

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A number of institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in Scorpio Tankers by 3.6% in the first quarter. Wellington Management Group LLP now owns 19,933,081 shares of the shipping company’s stock valued at $88,503,000 after buying an additional 684,099 shares during the period. Dimensional Fund Advisors LP raised its stake in Scorpio Tankers by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 15,987,443 shares of the shipping company’s stock valued at $63,471,000 after buying an additional 1,247,930 shares during the period. FMR LLC raised its stake in Scorpio Tankers by 160.9% in the second quarter. FMR LLC now owns 7,483,484 shares of the shipping company’s stock valued at $29,710,000 after buying an additional 4,615,440 shares during the period. Boston Partners raised its stake in Scorpio Tankers by 47.6% in the first quarter. Boston Partners now owns 4,782,108 shares of the shipping company’s stock valued at $21,233,000 after buying an additional 1,542,838 shares during the period. Finally, Investec Asset Management LTD raised its stake in Scorpio Tankers by 6.3% in the second quarter. Investec Asset Management LTD now owns 4,080,901 shares of the shipping company’s stock valued at $16,201,000 after buying an additional 241,429 shares during the period.

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).

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