Strs Ohio Reduces Holdings in Scorpio Tankers Inc. $STNG

Strs Ohio lowered its stake in Scorpio Tankers Inc. (NYSE:STNG) by 52.0% during the third quarter, Holdings Channel.com reports. The institutional investor 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 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Encompass Capital Advisors LLC acquired a new position in shares of Scorpio Tankers in the second quarter worth $30,890,000. AQR Capital Management LLC raised its stake in Scorpio Tankers by 91.9% in 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. Donald Smith & CO. Inc. purchased a new position in Scorpio Tankers in the 2nd quarter valued at about $10,845,000. American Century Companies Inc. boosted its stake in shares of Scorpio Tankers by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 1,778,606 shares of the shipping company’s stock worth $69,597,000 after purchasing an additional 153,475 shares during the last quarter. Finally, Private Management Group Inc. grew its holdings in shares of Scorpio Tankers by 58.2% during the second quarter. Private Management Group Inc. now owns 253,933 shares of the shipping company’s stock worth $9,936,000 after buying an additional 93,416 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Price Performance

Shares of Scorpio Tankers stock opened at $63.56 on Friday. The stock has a market capitalization of $3.24 billion, a P/E ratio of 10.75 and a beta of -0.27. The company has a current ratio of 4.81, a quick ratio of 4.75 and a debt-to-equity ratio of 0.25. The business’s fifty day moving average price is $55.33 and its 200 day moving average price is $54.42. Scorpio Tankers Inc. has a twelve month low of $30.63 and a twelve month high of $65.52.

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

Wall Street Analyst Weigh In

STNG has been the topic of several recent analyst reports. Zacks Research downgraded shares of Scorpio Tankers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. BTIG Research reissued a “buy” rating and set a $75.00 price target on shares of Scorpio Tankers in a research note on Monday, January 12th. B. Riley reiterated a “buy” rating and issued a $80.00 target price (up from $75.00) on shares of Scorpio Tankers in a research note on Thursday, October 16th. Moffett Nathanson raised Scorpio Tankers to a “neutral” rating in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.17.

Scorpio Tankers 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.