Insider Selling: Scorpio Tankers (NYSE:STNG) CEO Sells $21,793,084.56 in Stock

Scorpio Tankers Inc. (NYSE:STNG) CEO Emanuele Lauro sold 234,637 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Scorpio Tankers Stock Down 4.7%

Shares of Scorpio Tankers stock traded down $4.36 during trading on Monday, reaching $88.24. The company had a trading volume of 439,043 shares, compared to its average volume of 1,053,420. The company has a debt-to-equity ratio of 0.14, a quick ratio of 20.59 and a current ratio of 20.65. The firm’s fifty day moving average is $83.69 and its 200-day moving average is $76.80. Scorpio Tankers Inc. has a fifty-two week low of $48.93 and a fifty-two week high of $95.60. The company has a market cap of $4.45 billion, a price-to-earnings ratio of 4.67, a price-to-earnings-growth ratio of 1.89 and a beta of -0.17.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results 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 net margin of 77.07% and a return on equity of 17.06%. The company had revenue of $266.47 million during the quarter, compared to the consensus estimate of $243.98 million. During the same quarter in the previous year, the company posted $1.49 earnings per share. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Scorpio Tankers Inc. will post 15.59 EPS for the current year.

Scorpio Tankers Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 13th will be paid a $0.75 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $3.00 dividend on an annualized basis and a yield of 3.4%. This is an increase from Scorpio Tankers’s previous quarterly dividend of $0.45. Scorpio Tankers’s dividend payout ratio (DPR) is 15.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Evercore reaffirmed an “outperform” rating and issued a $97.00 price objective on shares of Scorpio Tankers in a research note on Tuesday, October 27th. Needham & Company LLC set a $130.00 target price on Scorpio Tankers in a research report on Thursday. Wall Street Zen downgraded Scorpio Tankers from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Scorpio Tankers in a research report on Monday, September 14th. Finally, Zacks Research downgraded Scorpio Tankers from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 30th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $105.33.

Hedge Funds Weigh In On Scorpio Tankers

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in shares of Scorpio Tankers by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,128,150 shares of the shipping company’s stock worth $233,544,000 after purchasing an additional 122,874 shares in the last quarter. Empowered Funds LLC increased its holdings in Scorpio Tankers by 20.9% in the first quarter. Empowered Funds LLC now owns 240,545 shares of the shipping company’s stock worth $17,959,000 after buying an additional 41,516 shares during the last quarter. Sei Investments Co. increased its holdings in Scorpio Tankers by 47.5% in the first quarter. Sei Investments Co. now owns 118,751 shares of the shipping company’s stock worth $8,865,000 after buying an additional 38,216 shares during the last quarter. Integrated Advisors Network LLC bought a new position in Scorpio Tankers during the first quarter valued at approximately $2,527,000. Finally, Navellier & Associates Inc. lifted 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 valued at $2,698,000 after acquiring an additional 22,839 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.