Insider Selling: Scorpio Tankers (NYSE:STNG) CEO Sells 234,637 Shares of Company Stock

Scorpio Tankers Inc. (NYSE:STNG – Get Free Report) CEO Emanuele Lauro sold 234,637 shares of Scorpio Tankers stock in a transaction on Friday, October 30th. The shares were sold at an average price of $92.88, for a total transaction of $21,793,084.56. Following the completion of the sale, the chief executive officer directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Scorpio Tankers Stock Down 4.7%

Scorpio Tankers stock traded down $4.36 during mid-day trading on Monday, hitting $88.24. 439,043 shares of the company’s stock were exchanged, compared to its average volume of 1,053,420. The company has a current ratio of 20.65, a quick ratio of 20.59 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.45 billion, a P/E ratio of 4.67, a P/E/G ratio of 1.89 and a beta of -0.17. Scorpio Tankers Inc. has a 1-year low of $48.93 and a 1-year high of $95.60. The stock has a 50 day moving average of $83.69 and a two-hundred day moving average of $76.80.

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 for the quarter, beating the consensus estimate of $2.06 by $0.43. Scorpio Tankers had a return on equity of 17.06% and a net margin of 77.07%. The company had revenue of $266.47 million for the quarter, compared to analyst estimates of $243.98 million. During the same period last year, the company earned $1.49 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. As a group, analysts anticipate that Scorpio Tankers Inc. will post 15.59 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently announced 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 is Friday, November 13th. This represents a $3.00 annualized dividend and a yield of 3.4%. Scorpio Tankers’s payout ratio is 15.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. B. Riley Financial restated a “buy” rating and set a $130.00 price target (up from $120.00) on shares of Scorpio Tankers in a report on Thursday. BTIG Research restated a “buy” rating and set a $110.00 target price on shares of Scorpio Tankers in a research note on Wednesday, October 28th. Truist Financial set a $130.00 target price on Scorpio Tankers in a report on Thursday. Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, September 14th. Five 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $105.33.

View Our Latest Stock Report on Scorpio Tankers

Institutional Investors Weigh In On Scorpio Tankers

A number of institutional investors have recently added to or reduced their stakes in STNG. Chicago Partners Investment Group LLC bought a new position in Scorpio Tankers during the third quarter valued at about $219,000. Covestor Ltd lifted its position in Scorpio Tankers by 73.5% in the third quarter. Covestor Ltd now owns 1,017 shares of the shipping company’s stock worth $85,000 after purchasing an additional 431 shares during the period. Gallacher Capital Management LLC acquired a new stake in Scorpio Tankers during the third quarter worth $422,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Scorpio Tankers during the third quarter worth $1,038,000. Finally, State of Wyoming increased its holdings in Scorpio Tankers by 7.4% in the 3rd quarter. State of Wyoming now owns 7,474 shares of the shipping company’s stock valued at $626,000 after buying an additional 515 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Stories

Receive News & Ratings for Scorpio Tankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scorpio Tankers and related companies with MarketBeat.com's FREE daily email newsletter.