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

Scorpio Tankers Inc. (NYSE:STNG) was the target of unusually large options trading on Tuesday. Stock traders bought 6,820 call options on the stock. This represents an increase of approximately 63% compared to the typical daily volume of 4,193 call options.

Institutional Trading of Scorpio Tankers

Several large investors have recently made changes to their positions in STNG. Mountaineer Partners Management LLC grew its holdings in Scorpio Tankers by 6,926.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after buying an additional 8,252,691 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Scorpio Tankers by 8,249.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after purchasing an additional 1,857,668 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Scorpio Tankers by 5.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,313,815 shares of the shipping company’s stock worth $106,800,000 after purchasing an additional 62,600 shares during the last quarter. American Century Companies Inc. grew its position in Scorpio Tankers by 20.3% during the 2nd quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock worth $96,391,000 after acquiring an additional 199,858 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Scorpio Tankers by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 768,129 shares of the shipping company’s stock worth $54,768,000 after acquiring an additional 38,599 shares during the last quarter. Institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Trading Up 10.1 %

Shares of Scorpio Tankers stock opened at $53.02 on Wednesday. The business has a fifty day simple moving average of $51.56 and a 200-day simple moving average of $65.09. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 3.80 and a beta of 0.12. Scorpio Tankers has a fifty-two week low of $45.94 and a fifty-two week high of $84.67. 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 announced its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping 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 company had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. During the same period in the previous year, the firm earned $1.91 earnings per share. Scorpio Tankers’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Evercore ISI lowered their price objective on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group reduced their price target on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a research report on Thursday, December 12th. 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 report on Tuesday, October 22nd. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Finally, Stifel Nicolaus lowered Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their target price for the company from $90.00 to $65.00 in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Scorpio Tankers presently has an average rating of “Hold” and an average target price of $75.40.

Scorpio Tankers Company Profile

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.