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Scorpio Tankers Inc. (STNG)

  • Thu, Apr. 30, 9:19 AM
  • Wed, Apr. 29, 5:37 PM
  • Wed, Apr. 29, 4:56 PM
    • Scorpio Tankers (NYSE:STNG) -6% AH after announcing a public offering of 15M common shares, with an underwriters option to purchase up to an additional 2.25M units.
    • STNG says it plans to use the proceeds to fund part of the acquisition costs of additional modern product tankers, which may include three LR2 product tankers it has options to purchase from an unaffiliated third party.
    | Comment!
  • Wed, Jan. 21, 11:49 AM
    • Scorpio Tankers (STNG -1.8%) issues Q4 EPS guidance of $0.10-$0.14, below the analyst consensus estimate of $0.15.
    • However, Canaccord upgrades STNG to Buy from Hold with an $11 price target, up from $9, due to changing product tanker supply and demand fundamentals.
    • The firm says it is becoming much more constructive on product tankers, seeing supply headwinds abating over the next 6-12 months and rates continuing to strenghten as new refineries come online in China, India and the Middle East.
    | Comment!
  • Aug. 27, 2014, 3:59 PM
    • Scorpio Tankers (STNG +4.3%) has remained sharply higher following earlier reports that it may form an MLP and has tapped an adviser, essentially confirmed by STNG president Robert Bugbee, who said it is seriously considering such a move.
    • STNG would act as a general partner should it decide to go the MLP route.
    | 1 Comment
  • Jun. 25, 2014, 5:42 PM
    • Top (after-hours) gainers, as of 5:15 p.m.: IRM +22.0%. TNK +4.7%. MNR +4.3%. WRE +4.0%. CAMP +3.6%.
    • Top losers, as of 5:15 p.m.: BBBY -7.3%. MLHR -6.1%. MWV -5.9%. STNG -4.1%. CACI -3.3%.
    | Comment!
  • May 30, 2014, 3:09 PM
    • Scorpio Tankers (STNG +2%) says it bought back 7.5M shares of its own stock using some of its stake in Dorian LPG (LPG +1.2%) as currency, and will record a gain of $11M on the deal.
    • STNG is left with 9.4M Dorian shares after selling 3.42M shares.
    • STNG also says it repurchased 2.76M shares at an average of $8.89 each as part of a $100M share buyback program.
    | Comment!
  • Mar. 14, 2014, 2:47 PM
    • Tsakos Energy (TNP +7.6%) is initiated with a Buy rating and $9 price target at UBS.
    • TNP's core exposure is in crude and product tankers, and given the firm's bullish outlook on crude and product, it views TNP's sector-low 0.98x price/NAV as a highly attractive entry point; a smaller free float and diversified fleet may account for some of the discount, but the firm feels this is fully warranted.
    • UBS also starts Teekay Tankers (TNK +2.4%) and Navios Maritime (NNA +0.2%) with Neutral ratings, and Scorpio Tankers (STNG +8.1%) at Buy with a $13 target.
    | Comment!
  • Dec. 19, 2013, 1:09 PM
    • Shares of Scorpio Tankers (STNG +3.1%) spike higher while Scorpio Bulkers (SALT -1.3%) pare losses after word breaks that York Capital Management's Jamie Dinan has listed the stocks among shipping names he likes.
    | Comment!
  • Aug. 6, 2013, 11:36 AM
    • The biggest slump in tanker rates since January is signaling weaker U.S. oil imports and spurring analysts to predict a 15-year low for shares of Frontline (FRO -1.9%).
    • Rates for the biggest crude carriers sank 68% in the past two weeks, more than reversing their advance since the end of June; the rise is seen as a blip, as the U.S. meets the highest share of its own energy needs in three decades.
    • Rates for VLCCs, each hauling 2M barrels, fell to $7,954/day on Aug. 2 after rising as high as $24,493 on July 12; earnings last exceeded the $25.5K that FRO says it needs to break even in November.
    • While U.S. oil production is bearish for crude tankers, it’s boosting demand for ships to export refined products, chemicals and liquefied petroleum gas; Scorpio Tankers (STNG) is expected to benefit.
  • Jul. 31, 2013, 7:49 AM
    • Scorpio Tankers (STNG) plans to offer 20M common shares to raise funds for acquiring more fuel-efficient tanker vessels in an effort to gain an edge in a competitive market.
    • STNG recently had ~164.7M shares outstanding.
    • Shares -6.1% premarket.
    | Comment!
  • Jul. 2, 2013, 4:28 PM
    Scorpio Tankers (STNG) reaches agreements with two yards in Korea to construct a minimum of five and up to 10 newbuilding vessels designed to carry liquefied petroleum gas. Also, STNG takes delivery of its ninth newbuilding MR product tanker, agrees to time charter-in a 2013-built LR2 product tanker, and declares options on two existing time chartered-in vessels. STNG +1.5% AH.
  • Sep. 13, 2012, 9:59 AM
    Global Hunter says shipping is "still afloat in troubled waters," believing companies with low leverage, modern fleets and experienced management should outperform the sector over the long term. The firm initiates coverage with at Buy for Scorpio Tankers (STNG +0.2%) and Tsakos Energy (TNP +3%). Starting at Accumulate: SFL. Neutral: NNA, OSG. Reduce: NAT.
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  • Dec. 1, 2011, 10:51 AM
    Scorpio Tankers (STNG -20.1%) gets stung after pricing its secondary offering of 7M shares at $5.50 per share, a whopping 17% discount to yesterday's closing price. The shipper plans to use the proceeds to buy two tankers and pay down debt. This would be the company's second offering this year, and with just 32 million shares outstanding, dilutes its total shares outstanding by 22%.
    | Comment!
  • Dec. 1, 2011, 9:00 AM
    Premarket gainers: LAVA +25%. TSPT +17%. AMR +12%. AGO +11%. YHOO +4%. LCC +5%. GMCR +3%. CLWR +3%. ALU +3%. SPIL +3%. OPK +3%.
    Losers: STNG -19%. LULU -13%. KSS -7%. IRE -5%. JASO -5%. BCS -3%.
    | Comment!
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Company Description
Scorpio Tankers Inc provides seaborne transportation of refined petroleum products and crude oil. Its fleet consists of 66 wholly owned tankers.
Sector: Services
Industry: Shipping
Country: United States