Traders Purchase Large Volume of Call Options on Scorpio Tankers (NYSE:STNG)

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

Institutional Investors Weigh In On Scorpio Tankers

Several large investors have recently made changes to their positions in STNG. EverSource Wealth Advisors LLC lifted its position in Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company’s stock worth $25,000 after acquiring an additional 291 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Scorpio Tankers during the third quarter valued at approximately $28,000. GAMMA Investing LLC lifted its position in shares of Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock worth $30,000 after purchasing an additional 402 shares in the last quarter. Quarry LP boosted its stake in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its holdings in Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after purchasing an additional 177 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

Wall Street Analyst Weigh In

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

Scorpio Tankers Stock Up 10.1 %

Shares of STNG opened at $53.02 on Wednesday. Scorpio Tankers has a fifty-two week low of $45.94 and a fifty-two week high of $84.67. The company’s fifty day moving average is $51.56 and its two-hundred day moving average is $65.09. The firm has a market cap of $2.68 billion, a PE ratio of 3.80 and a beta of 0.12. The company has a quick ratio of 2.18, a current ratio of 2.21 and a debt-to-equity ratio of 0.27.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating 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 firm had revenue of $267.99 million for the quarter, compared to analysts’ expectations of $267.91 million. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.91 earnings per share. Analysts forecast that Scorpio Tankers will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.40 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.60 annualized dividend and a yield of 3.02%. Scorpio Tankers’s dividend payout ratio is currently 11.47%.

About Scorpio Tankers

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.