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

Scorpio Tankers Inc. (NYSE:STNG) COO Cameron Mackey sold 125,000 shares of the stock in a transaction dated 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 directly owned 739,531 shares in the company, valued at $65,840,444.93. This represents a 14.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Scorpio Tankers Stock Down 0.6%

Shares of STNG stock traded down $0.57 on Friday, reaching $87.28. 280,792 shares of the stock were exchanged, compared to its average volume of 1,020,208. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 5.46 and a beta of -0.22. The business’s 50 day moving average price is $79.24 and its 200 day moving average price is $77.51. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14. Scorpio Tankers Inc. has a twelve month low of $48.93 and a twelve month high of $90.06.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Thursday, July 30th. The shipping company reported $4.68 earnings per share 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 business had revenue of $408.73 million during the quarter, compared to the consensus estimate of $398.25 million. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s revenue was up 77.5% compared to the same quarter last year. As a group, sell-side analysts expect that Scorpio Tankers Inc. will post 11.21 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Hedge Funds Weigh In On Scorpio Tankers

Institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new stake in shares of Scorpio Tankers in the 2nd quarter worth $478,000. Allworth Financial LP increased 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 worth $838,000 after acquiring an additional 568 shares during the period. Corient Private Wealth LP purchased a new position in Scorpio Tankers during the second quarter worth about $318,000. HB Wealth Management LLC purchased a new position in Scorpio Tankers during the second quarter worth about $237,000. Finally, Navellier & Associates Inc. lifted its position in Scorpio Tankers by 141.7% in the second 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 period. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STNG. Wall Street Zen cut Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 14th. Evercore reiterated an “outperform” rating and issued a $94.00 price target on shares of Scorpio Tankers in a research report on Wednesday, July 22nd. Morgan Stanley set a $86.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 18th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $100.00 target price on shares of Scorpio Tankers in a report on Tuesday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday. Five research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $91.57.

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.