Scorpio Tankers (NYSE:STNG) President Sells $19,978,755.81 in Stock

Scorpio Tankers Inc. (NYSE:STNG) President Robert Bugbee sold 231,799 shares of Scorpio Tankers stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $86.19, for a total value of $19,978,755.81. Following the transaction, the president directly owned 665,288 shares in the company, valued at approximately $57,341,172.72. This trade represents a 25.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Scorpio Tankers Stock Performance

Shares of STNG stock traded down $1.53 during trading hours on Friday, hitting $86.32. The stock had a trading volume of 442,263 shares, compared to its average volume of 1,021,008. The stock’s 50 day moving average is $79.24 and its 200 day moving average is $77.51. Scorpio Tankers Inc. has a twelve month low of $48.93 and a twelve month high of $90.06. The firm has a market capitalization of $4.35 billion, a PE ratio of 5.39 and a beta of -0.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 6.93 and a quick ratio of 6.89.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.56 by $0.12. The company had revenue of $408.73 million for 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%. Scorpio Tankers’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period last year, the firm posted $1.41 EPS. As a group, research analysts forecast that Scorpio Tankers Inc. will post 11.21 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Analyst Ratings Changes

Several research firms have commented on STNG. Evercore reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. BTIG Research boosted their target price on Scorpio Tankers from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Bank of America restated an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday. Finally, Wall Street Zen lowered shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $91.57.

Key Headlines Impacting Scorpio Tankers

Here are the key news stories impacting Scorpio Tankers this week:

• Positive Sentiment: BTIG raises price target to $110: BTIG Research lifted its price target for Scorpio Tankers from $100 to $110 and maintained a “buy” rating, implying substantial upside from recent trading levels. The firm’s optimism supports the investment case, although tanker stocks remain sensitive to freight rates and industry conditions. Shipping stocks and dividend yields article
• Neutral Sentiment: Dividend appeal comes with risks: A review of high-yield shipping stocks highlights that attractive payouts can vary significantly in sustainability depending on charter contracts, balance-sheet strength and payout history. The discussion may draw attention to Scorpio Tankers’ income potential, but also underscores the cyclical risks facing tanker dividends. Shipping stocks and dividend yields article
• Negative Sentiment: Multiple insiders sell shares: CFO Christopher Avella sold 56,500 shares for approximately $4.9 million, reducing his ownership by about 24%. COO Cameron Mackey sold 125,000 shares worth roughly $11.1 million, cutting his position by approximately 14.5%. Another insider, Auste Adelborg, sold 6,834 shares valued at about $612,600. The sales were disclosed in SEC filings; although insider transactions may reflect personal liquidity or diversification, the concentration of selling can weigh on investor sentiment. CFO SEC filing COO SEC filing Insider SEC filing

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Scorpio Tankers by 4.1% in the first quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock valued at $233,544,000 after purchasing an additional 122,874 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Scorpio Tankers by 7.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 918,223 shares of the shipping company’s stock worth $68,555,000 after acquiring an additional 64,511 shares during the period. Bank of America Corp DE grew its holdings in shares of Scorpio Tankers by 9.3% in the 1st quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock worth $18,244,000 after acquiring an additional 20,878 shares during the period. 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 worth $17,959,000 after purchasing an additional 41,516 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Scorpio Tankers by 9.8% in the first quarter. Bank of New York Mellon Corp now owns 132,975 shares of the shipping company’s stock valued at $9,928,000 after purchasing an additional 11,829 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

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.