Auste Adelborg Sells 6,834 Shares of Scorpio Tankers (NYSE:STNG) Stock

Scorpio Tankers Inc. (NYSE:STNG) insider Auste Adelborg sold 6,834 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $89.64, for a total transaction of $612,599.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Scorpio Tankers Price Performance

STNG stock opened at $87.88 on Friday. The company’s 50-day moving average price is $79.24 and its two-hundred day moving average price is $77.51. The firm has a market cap of $4.43 billion, a P/E ratio of 5.49 and a beta of -0.22. The company has a quick ratio of 6.89, a current ratio of 6.93 and a debt-to-equity ratio of 0.14. Scorpio Tankers Inc. has a 12 month low of $48.93 and a 12 month high of $90.06.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. The company had revenue of $408.73 million during the quarter, compared to the consensus estimate of $398.25 million. Scorpio Tankers had a net margin of 67.16% and a return on equity of 16.43%. The firm’s quarterly revenue was up 77.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 EPS. On average, analysts anticipate that Scorpio Tankers Inc. will post 11.21 earnings per share for the current fiscal year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.45 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.80 annualized dividend and a dividend yield of 2.0%. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.24%.

Analyst Upgrades and Downgrades

STNG has been the subject of several recent analyst reports. Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 30th. Evercore reissued an “outperform” rating and set a $94.00 target price on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 4th. BTIG Research raised their price target on shares of Scorpio Tankers from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wall Street Zen lowered shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Five research 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. According to MarketBeat, Scorpio Tankers currently has an average rating of “Hold” and a consensus target price of $91.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. acquired a new stake in shares of Scorpio Tankers in the first quarter valued at about $28,000. Root Financial Partners LLC lifted its stake in shares of 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 during the period. Pinnacle Holdings LLC bought a new stake in Scorpio Tankers in the second quarter valued at approximately $48,000. Public Employees Retirement System of Ohio bought a new stake in Scorpio Tankers in the second quarter valued at approximately $92,000. Finally, Leonteq Securities AG acquired a new stake in Scorpio Tankers during the 4th quarter valued at approximately $75,000. 54.64% of the stock is owned by institutional investors and hedge funds.

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.