Scorpio Tankers (NYSE:STNG) CEO Sells $21,793,084.56 in Stock

Scorpio Tankers Inc. (NYSE:STNG) CEO Emanuele Lauro sold 234,637 shares of the company’s stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $92.88, for a total transaction of $21,793,084.56. Following the completion of the transaction, the chief executive officer owned 913,162 shares of the company’s stock, valued at approximately $84,814,486.56. This trade represents a 20.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Scorpio Tankers Trading Down 2.6%

STNG stock opened at $85.06 on Thursday. Scorpio Tankers Inc. has a 52-week low of $48.93 and a 52-week high of $95.60. The company has a quick ratio of 20.59, a current ratio of 20.65 and a debt-to-equity ratio of 0.14. The firm has a market cap of $4.29 billion, a P/E ratio of 4.51, a PEG ratio of 1.78 and a beta of -0.10. The company’s 50-day simple moving average is $84.20 and its 200-day simple moving average is $77.21.

Scorpio Tankers (NYSE:STNG) last announced its quarterly 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. The firm had revenue of $266.47 million during the quarter, compared to analyst estimates of $243.98 million. Scorpio Tankers had a return on equity of 17.06% and a net margin of 77.07%. Scorpio Tankers’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.49 EPS. As a group, equities analysts forecast that Scorpio Tankers Inc. will post 15.59 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.45. This represents a $3.00 annualized dividend and a yield of 3.5%. Scorpio Tankers’s dividend payout ratio is 15.89%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Assetmark Inc. purchased a new stake in Scorpio Tankers during the 1st quarter worth approximately $28,000. Root Financial Partners LLC increased its position 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 worth $39,000 after purchasing an additional 347 shares in the last quarter. Pinnacle Holdings LLC purchased a new stake in shares of Scorpio Tankers during the second quarter worth approximately $48,000. Farther Finance Advisors LLC increased its position in shares of 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 purchasing an additional 150 shares in the last quarter. Finally, Covestor Ltd raised its stake in Scorpio Tankers by 73.5% in the 3rd quarter. Covestor Ltd now owns 1,017 shares of the shipping company’s stock valued at $85,000 after purchasing an additional 431 shares during the last quarter. 54.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STNG has been the subject of several research analyst reports. Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. BTIG Research reiterated a “buy” rating and set a $110.00 target price on shares of Scorpio Tankers in a research report on Wednesday, October 28th. Evercore set a $105.00 price target on shares of Scorpio Tankers in a research note on Monday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Scorpio Tankers from $102.00 to $113.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Scorpio Tankers has a consensus rating of “Moderate Buy” and an average price target of $109.56.

About Scorpio Tankers

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.