Scorpio Tankers (NYSE:STNG) Stock: Insider Emanuele Lauro Sells 234,637 Shares

Scorpio Tankers Inc. (NYSE:STNG) CEO Emanuele Lauro sold 234,637 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $92.88, for a total transaction of $21,793,084.56. Following the completion of the sale, the chief executive officer owned 913,162 shares of the company’s stock, valued at $84,814,486.56. This trade represents a 20.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Scorpio Tankers Stock Performance

Shares of STNG opened at $87.43 on Wednesday. The company has a current ratio of 20.65, a quick ratio of 20.59 and a debt-to-equity ratio of 0.14. The stock has a market cap of $4.41 billion, a P/E ratio of 7.33, a PEG ratio of 1.77 and a beta of -0.10. The company has a 50-day moving average of $84.04 and a two-hundred day moving average of $77.08. Scorpio Tankers Inc. has a 12-month low of $48.93 and a 12-month high of $95.60.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Wednesday, October 28th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.43. Scorpio Tankers had a return on equity of 17.06% and a net margin of 77.07%. The business had revenue of $266.47 million for the quarter, compared to the consensus estimate of $243.98 million. During the same period in the prior year, the business earned $1.49 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. As a group, research analysts predict that Scorpio Tankers Inc. will post 15.59 EPS for the current fiscal year.

Scorpio Tankers Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be given a $0.75 dividend. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.00 annualized dividend and a dividend yield of 3.4%. Scorpio Tankers’s dividend payout ratio is 9.53%.

Wall Street Analyst Weigh In

STNG has been the topic of a number of recent research reports. BTIG Research reaffirmed a “buy” rating and set a $110.00 price target on shares of Scorpio Tankers in a research report on Wednesday, October 28th. Truist Financial set a $130.00 price objective on shares of Scorpio Tankers in a research report on Thursday, October 29th. B. Riley Financial reissued a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Scorpio Tankers in a research report on Thursday, October 29th. Bank of America reissued an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Finally, Needham & Company LLC set a $130.00 target price on shares of Scorpio Tankers in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $106.22.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. raised its stake in shares of Scorpio Tankers by 47.5% in the 1st quarter. Sei Investments Co. now owns 118,751 shares of the shipping company’s stock valued at $8,865,000 after purchasing an additional 38,216 shares in the last quarter. Navellier & Associates Inc. grew its stake in Scorpio Tankers by 141.7% in the second quarter. Navellier & Associates Inc. now owns 38,960 shares of the shipping company’s stock worth $2,698,000 after purchasing an additional 22,839 shares in the last quarter. Jennison Associates LLC acquired a new position in Scorpio Tankers in the first quarter worth about $1,161,000. Integrated Advisors Network LLC acquired a new position in Scorpio Tankers in the first quarter worth about $2,527,000. Finally, Bank of America Corp DE increased its holdings in Scorpio Tankers by 9.3% in the first quarter. Bank of America Corp DE now owns 244,364 shares of the shipping company’s stock valued at $18,244,000 after buying an additional 20,878 shares during the last quarter. 54.64% of the stock is owned by institutional investors and hedge funds.

About Scorpio Tankers

Scorpio Tankers Inc is a marine transportation company that owns, operates and manages a fleet of product tankers. The company primarily transports refined petroleum products, including gasoline, diesel, jet fuel and heating oil, as well as petrochemical feedstocks and other liquid products.

Its fleet has historically included medium-range, handymax and long-range product tankers, allowing Scorpio Tankers to serve both regional and long-haul trade routes. The company’s vessels transport cargoes between major refining, storage and consumption centers across international markets, supporting energy companies, commodity traders and other commercial customers.

Scorpio Tankers was established in 2009 and is incorporated in the Marshall Islands, with corporate operations based in Monaco.