Scorpio Tankers Target of Unusually High Options Trading (NYSE:STNG)
by Amy Steele · The Cerbat GemScorpio Tankers Inc. (NYSE:STNG – Get Free Report) was the recipient of unusually large options trading on Friday. Stock traders purchased 2,012 put options on the stock. This represents an increase of 41% compared to the typical volume of 1,428 put options.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on STNG shares. Jefferies Financial Group restated a “buy” rating and issued a $70.00 target price on shares of Scorpio Tankers in a research note on Thursday, October 30th. Bank of America cut shares of Scorpio Tankers from a “buy” rating to an “underperform” rating in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, December 29th. B. Riley reiterated a “buy” rating and issued a $80.00 price objective (up from $75.00) on shares of Scorpio Tankers in a research report on Thursday, October 16th. Finally, Zacks Research cut shares of Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.20.
Get Our Latest Stock Analysis on Scorpio Tankers
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of STNG. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Scorpio Tankers by 3.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,466 shares of the shipping company’s stock valued at $1,317,000 after purchasing an additional 798 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in Scorpio Tankers during the third quarter valued at $95,000. CIBC Bancorp USA Inc. acquired a new stake in Scorpio Tankers during the 3rd quarter worth about $266,000. PharVision Advisers LLC bought a new position in shares of Scorpio Tankers in the 3rd quarter worth about $319,000. Finally, Summit Street Capital Management LLC lifted its stake in shares of Scorpio Tankers by 0.5% in the 3rd quarter. Summit Street Capital Management LLC now owns 500,962 shares of the shipping company’s stock valued at $28,079,000 after purchasing an additional 2,350 shares during the period. 54.64% of the stock is owned by institutional investors.
Scorpio Tankers Stock Down 3.3%
Scorpio Tankers stock traded down $1.86 during mid-day trading on Friday, reaching $54.32. The company’s stock had a trading volume of 525,731 shares, compared to its average volume of 1,092,690. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.75 and a current ratio of 4.81. Scorpio Tankers has a 12 month low of $30.63 and a 12 month high of $65.52. The business’s 50 day simple moving average is $56.29 and its 200 day simple moving average is $52.54. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 9.18 and a beta of -0.27.
Scorpio Tankers (NYSE:STNG – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The shipping company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.10. Scorpio Tankers had a net margin of 32.01% and a return on equity of 7.42%. The company had revenue of $232.92 million during the quarter, compared to the consensus estimate of $228.09 million. During the same quarter last year, the firm posted $1.75 EPS. The company’s quarterly revenue was down 9.9% on a year-over-year basis. As a group, research analysts anticipate that Scorpio Tankers will post 5.29 earnings per share for the current year.
Scorpio Tankers Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Stockholders of record on Friday, November 14th were issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.1%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Friday, November 14th. Scorpio Tankers’s dividend payout ratio (DPR) is currently 28.43%.
About Scorpio Tankers
Scorpio Tankers Inc (NYSE: STNG) is an independent provider of marine transportation services, specializing in the carriage of refined petroleum products. The company’s core operations focus on moving clean petroleum cargoes—such as gasoline, diesel, jet fuel and naphtha—on a global scale. By catering to both spot and time charter markets, Scorpio Tankers enables energy companies, refiners and traders to manage their supply chains with flexibility and reliability.
The company’s fleet is composed of modern, eco-designed product tankers, including medium range (MR) and long range (LR) vessels.