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

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

STNG has been the topic of a number of other research reports. Moffett Nathanson raised shares of Scorpio Tankers to a “neutral” rating in a research report on Monday, January 12th. BTIG Research increased their target price on shares of Scorpio Tankers from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. Zacks Research upgraded shares of Scorpio Tankers from a “strong sell” rating to a “hold” rating in a research note on Friday, February 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $79.67.

Scorpio Tankers Price Performance

Shares of STNG stock opened at $67.45 on Thursday. Scorpio Tankers has a 1-year low of $30.63 and a 1-year high of $81.85. The stock’s 50-day moving average is $65.90 and its 200 day moving average is $59.75. The company has a market cap of $3.49 billion, a P/E ratio of 9.54 and a beta of -0.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 9.33 and a quick ratio of 9.23.

Scorpio Tankers (NYSE:STNG) last posted 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. The company had revenue of $252.65 million for the quarter, compared to analyst estimates of $238.93 million. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The firm’s quarterly revenue was up 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Research analysts predict that Scorpio Tankers will post 5.29 earnings per share for the current fiscal year.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently bought and sold shares of STNG. SBI Securities Co. Ltd. grew its position in Scorpio Tankers by 110.3% during the 3rd quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after purchasing an additional 246 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of Scorpio Tankers by 1,645.2% in the fourth quarter. Global Retirement Partners LLC now owns 541 shares of the shipping company’s stock worth $27,000 after buying an additional 510 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Scorpio Tankers by 67.9% in the third quarter. Clearstead Advisors LLC now owns 507 shares of the shipping company’s stock worth $28,000 after buying an additional 205 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Scorpio Tankers during the fourth quarter worth $29,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in shares of Scorpio Tankers by 143.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the shipping company’s stock worth $31,000 after buying an additional 460 shares during the period. 54.64% of the stock is currently owned by institutional investors and hedge funds.

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.