Scorpio Tankers Target of Unusually Large Options Trading (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNG) was the target of unusually large options trading on Tuesday. Investors bought 6,820 call options on the company. This is an increase of 63% compared to the average daily volume of 4,193 call options.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $52.34 on Thursday. Scorpio Tankers has a fifty-two week low of $45.94 and a fifty-two week high of $84.67. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of 3.75 and a beta of 0.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The business has a 50-day moving average of $51.56 and a 200-day moving average of $65.09.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.61 by $0.14. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. During the same quarter in the prior year, the business posted $1.91 EPS. The business’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Scorpio Tankers will post 11.04 earnings per share for the current fiscal year.

Scorpio Tankers Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently 11.47%.

Institutional Trading of Scorpio Tankers

A number of hedge funds have recently made changes to their positions in STNG. Truist Financial Corp lifted its stake in shares of Scorpio Tankers by 1.4% during the 2nd quarter. Truist Financial Corp now owns 10,933 shares of the shipping company’s stock worth $889,000 after buying an additional 149 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock worth $57,000 after purchasing an additional 177 shares during the period. Quarry LP lifted its holdings in Scorpio Tankers by 52.8% during the 2nd quarter. Quarry LP now owns 663 shares of the shipping company’s stock worth $54,000 after purchasing an additional 229 shares during the last quarter. Segall Bryant & Hamill LLC increased its position in Scorpio Tankers by 2.1% during the 3rd quarter. Segall Bryant & Hamill LLC now owns 12,103 shares of the shipping company’s stock worth $863,000 after buying an additional 252 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Scorpio Tankers by 970.0% during the second quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares during the period. 54.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on STNG shares. Evercore ISI decreased their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the stock from $90.00 to $65.00 in a research note on Wednesday, October 23rd. Jefferies Financial Group reduced their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Bank of America dropped their price objective on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Finally, Fearnley Fonds upgraded Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Scorpio Tankers has an average rating of “Hold” and an average target price of $75.40.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of crude oi and refined petroleum products in the shipping markets worldwide. As of March 21, 2024, its fleet consisted of 110 owned and leases financed tanker, including 39 LR2, 57 MR, and 14 Handymax with a weighted average age of approximately 8.1 years.