Insider Selling: Scorpio Tankers (NYSE:STNG) Insider Sells $612,599.76 in Stock

Scorpio Tankers Inc. (NYSE:STNG) insider Auste Adelborg sold 6,834 shares of the company’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $89.64, for a total transaction of $612,599.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Scorpio Tankers Price Performance

Shares of NYSE STNG opened at $87.88 on Friday. The company has a market capitalization of $4.43 billion, a PE ratio of 5.49 and a beta of -0.22. The company has a quick ratio of 6.89, a current ratio of 6.93 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. The firm has a fifty day simple moving average of $79.24 and a 200 day simple moving average of $77.51.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings results on Thursday, July 30th. The shipping company reported $4.68 earnings per share for the quarter, topping analysts’ consensus estimates of $4.56 by $0.12. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%.The firm had revenue of $408.73 million during the quarter, compared to the consensus estimate of $398.25 million. During the same period last year, the business posted $1.41 EPS. The business’s revenue was up 77.5% compared to the same quarter last year. On average, sell-side analysts forecast that Scorpio Tankers Inc. will post 11.21 EPS for the current year.

Scorpio Tankers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.45 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.80 annualized dividend and a yield of 2.0%. Scorpio Tankers’s payout ratio is 11.24%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STNG. Bank of America reiterated an “underperform” rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Jefferies Financial Group restated a “buy” rating and issued a $100.00 price target on shares of Scorpio Tankers in a report on Tuesday, August 4th. Evercore reaffirmed an “outperform” rating and issued a $94.00 price target on shares of Scorpio Tankers in a research note on Wednesday, July 22nd. BTIG Research upped their price objective on shares of Scorpio Tankers from $100.00 to $110.00 and gave the company a “buy” rating in a report on Friday. Finally, Morgan Stanley set a $86.00 price objective on shares of Scorpio Tankers in a research report on Tuesday, August 18th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.57.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. WINTON GROUP Ltd bought a new stake in shares of Scorpio Tankers during the second quarter worth about $478,000. Allworth Financial LP lifted its position in Scorpio Tankers by 4.9% in the 2nd quarter. Allworth Financial LP now owns 12,097 shares of the shipping company’s stock valued at $838,000 after acquiring an additional 568 shares in the last quarter. Corient Private Wealth LP acquired a new position in Scorpio Tankers during the 2nd quarter valued at about $318,000. HB Wealth Management LLC acquired a new position in Scorpio Tankers during the 2nd quarter valued at about $237,000. Finally, Navellier & Associates Inc. increased its holdings in Scorpio Tankers by 141.7% during the 2nd 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. 54.64% of the stock is currently 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 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.