The IBD SmartSelect Composite Rating for Scorpio Tankers stock increased from 94 to 96 Friday. The oil transportation stock has a 99 Relative Strength Rating.
The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. Winning stocks often have a 95 or higher rating in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Scorpio Tankers stock has performed well despite the challenging current stock market rout. The oil stock has now climbed above a proper buy zone after breaking out from a 20.38 buy point in a consolidation and is very extended.
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One weak spot is the company's 69 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q2, the oil company posted 433% earnings growth. That marks three straight reports with rising EPS gains. Sales growth increased 190%, up from 30% in the prior report. That marks four consecutive reports with rising growth.
Scorpio Tankers stock earns the No. 8 rank among its peers in the Oil&Gas-Transportation/Pipeline industry group. Enlink Midstream, Western Gas Equity Partners and Flex Lng are among the top 5 highly-rated stocks within the group.
