Scorpio Tankers (NYSE:STNG) Sets New 1-Year High – Here’s Why

Shares of Scorpio Tankers Inc. (NYSE:STNG) hit a new 52-week high on Wednesday. The stock traded as high as $92.75 and last traded at $88.6010, with a volume of 898,827 shares. The stock had previously closed at $85.33.

Analyst Ratings Changes

Several equities analysts recently commented on STNG shares. Wall Street Zen lowered shares of Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Scorpio Tankers in a report on Monday, September 14th. Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price target on shares of Scorpio Tankers in a report on Tuesday, August 4th. BTIG Research boosted their price objective on shares of Scorpio Tankers from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, September 18th. Finally, Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Scorpio Tankers presently has a consensus rating of “Hold” and a consensus target price of $92.57.

Scorpio Tankers Trading Up 3.8%

The company has a market capitalization of $4.46 billion, a PE ratio of 5.53 and a beta of -0.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 6.89 and a current ratio of 6.93. The business has a fifty day moving average price of $82.91 and a 200 day moving average price of $76.25.

Scorpio Tankers (NYSE:STNG) last issued its earnings results on Thursday, October 29th. The shipping company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.43. The business had revenue of $266.47 million during the quarter, compared to analysts’ expectations of $243.98 million. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 EPS. Analysts expect that Scorpio Tankers Inc. will post 11.28 EPS for the current fiscal year.

Insider Buying and Selling at Scorpio Tankers

In other news, COO Cameron Mackey sold 125,000 shares of the stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $89.03, for a total value of $11,128,750.00. Following the completion of the sale, the chief operating officer owned 739,531 shares of the company’s stock, valued at $65,840,444.93. This represents a 14.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Auste Adelborg sold 6,834 shares of the stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $89.64, for a total transaction of $612,599.76. The SEC filing for this sale provides additional information. In the last three months, insiders sold 420,133 shares of company stock valued at $36,611,311. 7.34% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Scorpio Tankers

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hanseatic Management Services Inc. purchased a new stake in Scorpio Tankers during the 3rd quarter worth $272,000. Signaturefd LLC boosted its position in shares of Scorpio Tankers by 36.2% in the third quarter. Signaturefd LLC now owns 2,395 shares of the shipping company’s stock worth $200,000 after buying an additional 636 shares during the period. U S Global Investors Inc. boosted its position in shares of Scorpio Tankers by 10.9% in the third quarter. U S Global Investors Inc. now owns 10,513 shares of the shipping company’s stock worth $880,000 after buying an additional 1,033 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Scorpio Tankers in the third quarter worth about $50,000. Finally, Krilogy Financial LLC grew its stake in shares of Scorpio Tankers by 7.8% in the third quarter. Krilogy Financial LLC now owns 3,857 shares of the shipping company’s stock valued at $337,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds own 54.64% of the company’s stock.

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.