Scorpio Tankers (NYSE:STNG) COO Sells 125,000 Shares

Scorpio Tankers Inc. (NYSE:STNG) COO Cameron Mackey sold 125,000 shares of Scorpio Tankers stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $89.03, for a total value of $11,128,750.00. Following the completion of the sale, the chief operating officer owned 739,531 shares in the company, valued at approximately $65,840,444.93. This trade represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Scorpio Tankers Price Performance

NYSE:STNG traded down $0.57 during trading hours on Friday, hitting $87.28. The company’s stock had a trading volume of 280,792 shares, compared to its average volume of 1,020,208. The business’s 50-day moving average is $79.24 and its two-hundred day moving average is $77.51. The company has a market capitalization of $4.40 billion, a PE ratio of 5.46 and a beta of -0.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.89 and a current ratio of 6.93. Scorpio Tankers Inc. has a 52-week low of $48.93 and a 52-week high of $90.06.

Scorpio Tankers (NYSE:STNG) last released its earnings results on Thursday, July 30th. The shipping company reported $4.68 EPS for the quarter, beating 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 return on equity of 16.43% and a net margin of 67.16%.Scorpio Tankers’s quarterly revenue was up 77.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.41 earnings per share. As a group, research analysts anticipate 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. Investors 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 2.1%. Scorpio Tankers’s dividend payout ratio (DPR) is 11.24%.

Analysts Set New Price Targets

STNG has been the subject of a number of research analyst reports. Morgan Stanley set a $86.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 18th. Evercore reissued an “outperform” rating and set a $94.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a research note on Monday. Zacks Research cut Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Finally, Bank of America reaffirmed an “underperform” rating on shares of Scorpio Tankers in a report on Tuesday, September 8th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Scorpio Tankers currently has an average rating of “Hold” and a consensus target price of $91.57.

Institutional Investors Weigh In On Scorpio Tankers

A number of large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new position in shares of Scorpio Tankers in the second quarter worth $478,000. Allworth Financial LP boosted its stake in shares of Scorpio Tankers by 4.9% during the second quarter. Allworth Financial LP now owns 12,097 shares of the shipping company’s stock valued at $838,000 after acquiring an additional 568 shares during the last quarter. Corient Private Wealth LP purchased a new stake in Scorpio Tankers during the 2nd quarter worth about $318,000. HB Wealth Management LLC purchased a new stake in Scorpio Tankers during the 2nd quarter worth about $237,000. Finally, Navellier & Associates Inc. raised its stake in Scorpio Tankers by 141.7% in the 2nd quarter. Navellier & Associates Inc. now owns 38,960 shares of the shipping company’s stock valued at $2,698,000 after purchasing an additional 22,839 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.