Scorpio Tankers Inc. (NYSE:STNG – Get Free Report) shares shot up 4.2% on Monday. The stock traded as high as $84.47 and last traded at $84.9080. 392,755 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 1,022,765 shares. The stock had previously closed at $81.49.
Wall Street Analyst Weigh In
A number of analysts recently commented on STNG shares. Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday, September 14th. Bank of America reiterated an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Morgan Stanley set a $86.00 target price on Scorpio Tankers in a research report on Tuesday, August 18th. Wall Street Zen lowered Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price target on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $91.57.
Check Out Our Latest Stock Report on Scorpio Tankers
Scorpio Tankers Price Performance
Scorpio Tankers (NYSE:STNG – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 EPS for the quarter, topping the consensus estimate of $4.56 by $0.12. The company had revenue of $408.73 million during the quarter, compared to analyst estimates of $398.25 million. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.Scorpio Tankers’s revenue was up 77.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.41 earnings per share. On average, sell-side analysts expect that Scorpio Tankers Inc. will post 11.21 EPS for the current fiscal year.
Scorpio Tankers Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, August 17th. Scorpio Tankers’s payout ratio is currently 11.24%.
Insider Transactions at Scorpio Tankers
In related news, President Robert L. Bugbee sold 231,799 shares of the stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $86.19, for a total transaction of $19,978,755.81. Following the transaction, the president owned 665,288 shares of the company’s stock, valued at approximately $57,341,172.72. This trade represents a 25.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Cameron Mackey sold 125,000 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $89.03, for a total transaction of $11,128,750.00. Following the sale, the chief operating officer owned 739,531 shares of the company’s stock, valued at approximately $65,840,444.93. The trade was a 14.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 420,133 shares of company stock worth $36,611,311 in the last three months. Insiders own 7.34% of the company’s stock.
Hedge Funds Weigh In On Scorpio Tankers
Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in Scorpio Tankers by 13.8% during the 1st quarter. Parallel Advisors LLC now owns 2,124 shares of the shipping company’s stock valued at $159,000 after buying an additional 257 shares during the last quarter. Root Financial Partners LLC raised its stake in shares of Scorpio Tankers by 193.9% during the first quarter. Root Financial Partners LLC now owns 526 shares of the shipping company’s stock valued at $39,000 after acquiring an additional 347 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 12.2% during the first quarter. EverSource Wealth Advisors LLC now owns 3,218 shares of the shipping company’s stock worth $240,000 after purchasing an additional 350 shares during the period. Assetmark Inc. bought a new position in Scorpio Tankers during the 1st quarter valued at approximately $28,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Scorpio Tankers by 37.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,081 shares of the shipping company’s stock worth $106,000 after buying an additional 562 shares during the period. 54.64% of the stock is currently owned by institutional investors.
About Scorpio Tankers
Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as certain petrochemical feedstocks, for energy companies, commodity traders and other commercial customers.
Scorpio Tankers’ fleet has included medium-range, long-range and handymax product tankers, which serve different trade routes and cargo requirements. Its vessels operate internationally, carrying refined petroleum products between major refining, storage and consumption centers across regions including the Americas, Europe, the Middle East and Asia.
The company was established in 2009 and is headquartered in Monaco.
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