Scorpio Tankers Sees Unusually Large Options Volume (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 is an increase of approximately 63% compared to the average daily volume of 4,193 call options.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased 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 valued at $25,000 after purchasing an additional 291 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of Scorpio Tankers during the third quarter valued at approximately $28,000. GAMMA Investing LLC increased its holdings in Scorpio Tankers by 204.1% during the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company’s stock valued at $30,000 after buying an additional 402 shares during the period. Quarry LP increased its holdings in Scorpio Tankers by 52.8% during the second quarter. Quarry LP now owns 663 shares of the shipping company’s stock valued at $54,000 after buying an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. increased its holdings in Scorpio Tankers by 34.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company’s stock valued at $57,000 after buying an additional 177 shares during the period. Hedge funds and other institutional investors own 54.64% of the company’s stock.

Scorpio Tankers Stock Up 8.3 %

Shares of Scorpio Tankers stock traded up $4.00 on Tuesday, reaching $52.17. The company’s stock had a trading volume of 466,384 shares, compared to its average volume of 744,174. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 3.74 and a beta of 0.12. The firm’s fifty day simple moving average is $51.69 and its two-hundred day simple moving average is $65.29. Scorpio Tankers has a 52 week low of $45.94 and a 52 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 released its earnings results on Tuesday, October 29th. The shipping company reported $1.75 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $267.91 million. During the same period in the previous year, the business earned $1.91 earnings per share. Scorpio Tankers’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts anticipate that Scorpio Tankers will post 11.04 earnings per share for the current year.

Scorpio Tankers Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.07%. Scorpio Tankers’s dividend payout ratio is 11.47%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Evercore ISI cut their target price on Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Fearnley Fonds upgraded shares of Scorpio Tankers to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group decreased their price objective on Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating for the company in a report on Thursday, December 12th. Bank of America decreased their price target on Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus downgraded Scorpio Tankers from a “buy” rating to a “hold” rating and decreased their price target for the stock from $90.00 to $65.00 in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $75.40.

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.