Scorpio Tankers (NYSE:STNG) Lowered to “Hold” Rating by Dnb Carnegie

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

STNG has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $83.00 price objective on shares of Scorpio Tankers in a report on Friday, February 13th. Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research report on Monday. B. Riley Financial reaffirmed a “buy” rating on shares of Scorpio Tankers in a research note on Friday, February 13th. Moffett Nathanson upgraded Scorpio Tankers to a “neutral” rating in a report on Monday, January 12th. Finally, Evercore reissued an “outperform” rating and issued a $83.00 price objective on shares of Scorpio Tankers in a research note on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $79.67.

Scorpio Tankers Stock Performance

Shares of Scorpio Tankers stock opened at $67.45 on Thursday. The company has a quick ratio of 9.23, a current ratio of 9.33 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average is $65.90 and its two-hundred day moving average is $59.75. Scorpio Tankers has a 52 week low of $30.63 and a 52 week high of $81.85. The company has a market capitalization of $3.49 billion, a PE ratio of 9.54 and a beta of -0.31.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, February 12th. The shipping company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. The business had revenue of $252.65 million during the quarter, compared to the consensus estimate of $238.93 million. Scorpio Tankers had a return on equity of 8.85% and a net margin of 36.70%.The business’s revenue for the quarter was up 23.8% compared to the same quarter last year. During the same period last year, the company earned $0.63 earnings per share. As a group, analysts expect that Scorpio Tankers will post 5.29 earnings per share for the current year.

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently modified their holdings of STNG. Dimensional Fund Advisors LP lifted its position in shares of Scorpio Tankers by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,005,276 shares of the shipping company’s stock worth $152,757,000 after purchasing an additional 60,401 shares during the period. American Century Companies Inc. increased its holdings in Scorpio Tankers by 7.6% during the third quarter. American Century Companies Inc. now owns 1,913,729 shares of the shipping company’s stock valued at $107,265,000 after buying an additional 135,123 shares during the period. Victory Capital Management Inc. raised its stake in Scorpio Tankers by 7.1% in the third quarter. Victory Capital Management Inc. now owns 1,249,834 shares of the shipping company’s stock worth $70,053,000 after buying an additional 83,294 shares in the last quarter. Renaissance Technologies LLC raised its stake in Scorpio Tankers by 12.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,223,015 shares of the shipping company’s stock worth $62,166,000 after buying an additional 137,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Scorpio Tankers by 136.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock worth $43,394,000 after buying an additional 492,584 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.