Scorpio Tankers (NYSE:STNG) Rating Lowered to Hold at Dnb Carnegie

Scorpio Tankers (NYSE:STNG) was downgraded by equities research analysts at Dnb Carnegie from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday,Zacks.com reports.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $83.00 price objective on shares of Scorpio Tankers in a research note on Friday, February 13th. Zacks Research upgraded Scorpio Tankers from a “strong sell” rating to a “hold” rating in a report on Friday, February 13th. B. Riley Financial reissued a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Evercore restated an “outperform” rating and set a $83.00 price target on shares of Scorpio Tankers in a report on Friday, February 13th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Scorpio Tankers currently has an average rating of “Moderate Buy” and an average target price of $79.67.

Scorpio Tankers Trading Down 1.5%

STNG opened at $66.41 on Thursday. Scorpio Tankers has a twelve month low of $30.63 and a twelve month high of $81.85. The company has a fifty day moving average of $66.24 and a 200-day moving average of $59.88. The stock has a market cap of $3.44 billion, a PE ratio of 9.39 and a beta of -0.31. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.25. Scorpio Tankers had a net margin of 36.70% and a return on equity of 8.85%. The business had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. Scorpio Tankers’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, sell-side analysts predict that Scorpio Tankers will post 5.29 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC grew its stake in Scorpio Tankers by 3.1% in the fourth quarter. Kestra Advisory Services LLC now owns 5,286 shares of the shipping company’s stock valued at $269,000 after acquiring an additional 158 shares during the period. Versant Capital Management Inc lifted its holdings in shares of Scorpio Tankers by 17.4% in the 3rd quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company’s stock worth $65,000 after purchasing an additional 172 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Scorpio Tankers by 15.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company’s stock worth $79,000 after purchasing an additional 194 shares in the last quarter. Clearstead Advisors LLC grew its position in Scorpio Tankers by 67.9% in the 3rd quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock valued at $28,000 after purchasing an additional 205 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in Scorpio Tankers by 1.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company’s stock valued at $680,000 after purchasing an additional 223 shares during the period. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Company Profile

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.