Strs Ohio Lowers Stock Holdings in Scorpio Tankers Inc. $STNG

Strs Ohio cut its stake in shares of Scorpio Tankers Inc. (NYSE:STNG) by 52.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,400 shares of the shipping company’s stock after selling 10,200 shares during the period. Strs Ohio’s holdings in Scorpio Tankers were worth $527,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STNG. Versant Capital Management Inc increased its holdings in shares of Scorpio Tankers by 17.4% in the third quarter. Versant Capital Management Inc now owns 1,160 shares of the shipping company’s stock valued at $65,000 after purchasing an additional 172 shares during the period. Public Employees Retirement System of Ohio increased its stake in Scorpio Tankers by 25.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 1,224 shares of the shipping company’s stock valued at $48,000 after buying an additional 245 shares during the period. GAMMA Investing LLC raised its position in Scorpio Tankers by 30.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,117 shares of the shipping company’s stock worth $63,000 after buying an additional 263 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in shares of Scorpio Tankers by 5.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 5,953 shares of the shipping company’s stock worth $233,000 after acquiring an additional 306 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Scorpio Tankers by 77.1% in the second quarter. Spire Wealth Management now owns 758 shares of the shipping company’s stock valued at $30,000 after acquiring an additional 330 shares in the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $80.00 price target (up from $75.00) on shares of Scorpio Tankers in a report on Thursday, October 16th. Bank of America cut Scorpio Tankers from a “buy” rating to an “underperform” rating in a report on Friday, January 9th. Jefferies Financial Group restated a “buy” rating and issued a $70.00 price target on shares of Scorpio Tankers in a research note on Thursday, October 30th. Zacks Research cut Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, BTIG Research restated a “buy” rating and set a $75.00 target price on shares of Scorpio Tankers in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Scorpio Tankers has an average rating of “Hold” and an average target price of $70.17.

Scorpio Tankers Price Performance

Shares of NYSE:STNG opened at $63.56 on Friday. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 10.75 and a beta of -0.27. The company has a debt-to-equity ratio of 0.25, a current ratio of 4.81 and a quick ratio of 4.75. The business’s 50 day simple moving average is $55.33 and its 200-day simple moving average is $54.42. Scorpio Tankers Inc. has a 12 month low of $30.63 and a 12 month high of $65.52.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.10. The firm had revenue of $232.92 million during the quarter, compared to analysts’ expectations of $228.09 million. Scorpio Tankers had a return on equity of 7.42% and a net margin of 32.01%.Scorpio Tankers’s revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.75 earnings per share. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 5.29 earnings per share for the current fiscal year.

About Scorpio Tankers

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.