Scorpio Tankers (NYSE:STNG) Downgraded to Underperform Rating by Bank of America

Scorpio Tankers (NYSE:STNG) was downgraded by stock analysts at Bank of America from a “buy” rating to an “underperform” rating in a report released on Friday.

STNG has been the subject of several other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, December 29th. Evercore ISI set a $80.00 target price on Scorpio Tankers and gave the stock an “outperform” rating in a research note on Monday, November 3rd. B. Riley reaffirmed a “buy” rating and set a $80.00 price target (up previously from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. Jefferies Financial Group reissued a “buy” rating and issued a $70.00 price objective on shares of Scorpio Tankers in a report on Thursday, October 30th. Finally, Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.20.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $56.14 on Friday. Scorpio Tankers has a fifty-two week low of $30.63 and a fifty-two week high of $65.52. The company has a market cap of $2.86 billion, a PE ratio of 9.50 and a beta of -0.27. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81. The business has a 50-day simple moving average of $56.29 and a two-hundred day simple moving average of $52.54.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of STNG. Versant Capital Management Inc boosted its position in 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 increased its holdings in shares of Scorpio Tankers by 15.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 1,418 shares of the shipping company’s stock valued at $79,000 after purchasing an additional 194 shares in the last quarter. Clearstead Advisors LLC lifted its stake in shares of 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. Vanguard Personalized Indexing Management LLC boosted its holdings in Scorpio Tankers by 1.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 12,131 shares of the shipping company’s stock worth $680,000 after buying an additional 223 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Scorpio Tankers by 110.3% during the third quarter. SBI Securities Co. Ltd. now owns 469 shares of the shipping company’s stock worth $26,000 after buying an additional 246 shares in the last quarter. 54.64% of the stock is currently owned by hedge funds and other institutional investors.

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.