Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) CEO Emanuele Lauro sold 234,637 shares of the company's stock in a transaction on Friday, October 30th. The stock was sold at an average price of $92.88, for a total value of $21,793,084.56. Following the transaction, the chief executive officer owned 913,162 shares of the company's stock, valued at approximately $84,814,486.56. The trade was a 20.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Scorpio Tankers Price Performance
Shares of NYSE STNG opened at $86.61 on Tuesday. Scorpio Tankers Inc. has a 1-year low of $48.93 and a 1-year high of $95.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89. The business's fifty day moving average price is $83.85 and its two-hundred day moving average price is $76.94. The firm has a market capitalization of $4.37 billion, a PE ratio of 7.51 and a beta of -0.17.
Scorpio Tankers (NYSE:STNG - Get Free Report) last posted its earnings results on Wednesday, October 28th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.43. Scorpio Tankers had a return on equity of 17.62% and a net margin of 77.07%. The company had revenue of $266.47 million for the quarter, compared to analysts' expectations of $243.98 million. During the same period last year, the business posted $1.49 earnings per share. The firm's quarterly revenue was up 10.4% compared to the same quarter last year. On average, research analysts expect that Scorpio Tankers Inc. will post 15.59 EPS for the current year.
Scorpio Tankers Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be issued a $0.75 dividend. This is a boost from Scorpio Tankers's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.5%. Scorpio Tankers's dividend payout ratio is 9.53%.
Institutional Trading of Scorpio Tankers
Hedge funds and other institutional investors have recently modified their holdings of the business. Assetmark Inc. purchased a new position in Scorpio Tankers during the 1st quarter valued at about $28,000. Root Financial Partners LLC grew its position in Scorpio Tankers by 193.9% in the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company's stock worth $39,000 after acquiring an additional 347 shares in the last quarter. Pinnacle Holdings LLC bought a new stake in Scorpio Tankers in the second quarter worth approximately $48,000. Farther Finance Advisors LLC increased its position in Scorpio Tankers by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 579 shares of the shipping company's stock worth $48,000 after buying an additional 150 shares during the last quarter. Finally, Covestor Ltd increased its holdings in shares of Scorpio Tankers by 73.5% during the 3rd quarter. Covestor Ltd now owns 1,017 shares of the shipping company's stock valued at $85,000 after acquiring an additional 431 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.
Wall Street Analyst Weigh In
STNG has been the subject of a number of analyst reports. BTIG Research reissued a "buy" rating and set a $110.00 target price on shares of Scorpio Tankers in a research note on Wednesday, October 28th. Needham & Company LLC set a $130.00 target price on shares of Scorpio Tankers in a research report on Thursday. Wall Street Zen cut Scorpio Tankers from a "strong-buy" rating to a "buy" rating in a research report on Tuesday, July 14th. Truist Financial set a $130.00 target price on shares of Scorpio Tankers in a research note on Thursday. Finally, Evercore set a $105.00 price objective on Scorpio Tankers in a research note on Monday. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $106.22.
Check Out Our Latest Research Report on Scorpio Tankers
Scorpio Tankers Company Profile
(
Get Free Report)
Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as petrochemical feedstocks and other liquid products.
Its fleet has historically included medium-range, handymax and long-range product tankers, allowing Scorpio Tankers to serve both regional and long-haul trade routes. The company's vessels transport cargoes between major refining, storage and consumption centers across international markets, supporting energy companies, commodity traders and other commercial customers.
Scorpio Tankers was established in 2009 and is incorporated in the Marshall Islands, with corporate operations based in Monaco.
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