Scorpio Tankers (NYSE:STNG) Downgraded to Buy Rating by Wall Street Zen

Scorpio Tankers (NYSE:STNG) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Several other equities analysts have also recently issued reports on the stock. BTIG Research boosted their price target on shares of Scorpio Tankers from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Zacks Research lowered shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, June 15th. Evercore restated an “outperform” rating and issued a $98.00 price objective on shares of Scorpio Tankers in a report on Wednesday, May 27th. Jefferies Financial Group began coverage on Scorpio Tankers in a research report on Friday, April 24th. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Morgan Stanley set a $82.00 target price on Scorpio Tankers and gave the stock an “equal weight” rating in a research report on Thursday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Scorpio Tankers currently has a consensus rating of “Hold” and a consensus target price of $88.71.

Scorpio Tankers Stock Down 2.3%

Shares of Scorpio Tankers stock opened at $77.46 on Tuesday. The company has a current ratio of 13.98, a quick ratio of 13.87 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $78.16 and its two-hundred day simple moving average is $71.60. The company has a market cap of $3.91 billion, a P/E ratio of 7.62 and a beta of -0.24. Scorpio Tankers has a 12-month low of $42.20 and a 12-month high of $87.39.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, May 6th. The shipping company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.79 by $0.23. Scorpio Tankers had a net margin of 48.44% and a return on equity of 11.72%. The business had revenue of $312.86 million during the quarter, compared to analyst estimates of $286.81 million. During the same period in the prior year, the business earned $1.03 EPS. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. Research analysts anticipate that Scorpio Tankers will post 13.07 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Merewether Investment Management LP purchased a new stake in shares of Scorpio Tankers during the third quarter valued at approximately $38,471,000. Assenagon Asset Management S.A. lifted its position in Scorpio Tankers by 136.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 853,712 shares of the shipping company’s stock valued at $43,394,000 after acquiring an additional 492,584 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Scorpio Tankers by 68.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 806,049 shares of the shipping company’s stock valued at $45,179,000 after acquiring an additional 326,973 shares in the last quarter. AQR Capital Management LLC boosted its stake in Scorpio Tankers by 91.9% during the 2nd quarter. AQR Capital Management LLC now owns 642,673 shares of the shipping company’s stock valued at $25,148,000 after purchasing an additional 307,815 shares during the last quarter. Finally, Credit Agricole S A purchased a new stake in Scorpio Tankers during the 3rd quarter valued at $16,703,000. 54.64% of the stock is currently owned by 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.