Scorpio Tankers (NYSE:STNG) CFO Christopher John Avella Sells 56,500 Shares

Scorpio Tankers Inc. (NYSE:STNG) CFO Christopher Avella sold 56,500 shares of the stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $86.57, for a total value of $4,891,205.00. Following the completion of the sale, the chief financial officer owned 178,834 shares in the company, valued at approximately $15,481,659.38. The trade was a 24.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Scorpio Tankers Trading Down 0.6%

Shares of STNG traded down $0.57 during trading hours on Friday, reaching $87.28. 280,792 shares of the company traded hands, compared to its average volume of 1,020,208. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of 5.46 and a beta of -0.22. Scorpio Tankers Inc. has a 12-month low of $48.93 and a 12-month high of $90.06. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $79.24 and its 200 day moving average price is $77.51.

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

Scorpio Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Monday, August 17th. Scorpio Tankers’s dividend payout ratio is currently 11.24%.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently bought and sold shares of the stock. Sei Investments Co. boosted its position in Scorpio Tankers by 47.5% during the 1st quarter. Sei Investments Co. now owns 118,751 shares of the shipping company’s stock valued at $8,865,000 after acquiring an additional 38,216 shares in the last quarter. Integrated Advisors Network LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth $2,527,000. Jennison Associates LLC purchased a new stake in shares of Scorpio Tankers during the 1st quarter worth $1,161,000. Bank of America Corp DE boosted its position in Scorpio Tankers by 9.3% during the first quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock valued at $18,244,000 after purchasing an additional 20,878 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Scorpio Tankers by 20.9% during the first quarter. Empowered Funds LLC now owns 240,545 shares of the shipping company’s stock valued at $17,959,000 after purchasing an additional 41,516 shares in the last quarter. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Analysts Set New Price Targets

STNG has been the subject of a number of research reports. Wall Street Zen lowered Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. BTIG Research lifted their target price on Scorpio Tankers from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Morgan Stanley set a $86.00 target price on Scorpio Tankers in a report on Tuesday, August 18th. Evercore restated an “outperform” rating and set a $94.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $91.57.

Scorpio Tankers Company Profile

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.