Traders Buy Large Volume of Scorpio Tankers Call Options (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNG) saw some unusual options trading activity on Monday. Stock investors bought 18,225 call options on the stock. This is an increase of approximately 1,237% compared to the typical volume of 1,363 call options.

Several equities research analysts have recently issued reports on the stock. B. Riley set a $40.00 price objective on shares of Scorpio Tankers and gave the stock a “buy” rating in a research report on Tuesday, September 24th. ValuEngine cut shares of Scorpio Tankers from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Scorpio Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. Stifel Nicolaus cut shares of Scorpio Tankers from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $32.00 to $37.00 in a research report on Thursday, October 17th. Finally, Evercore ISI reaffirmed a “buy” rating on shares of Scorpio Tankers in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $36.33.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Investec Asset Management LTD lifted its position in Scorpio Tankers by 0.7% in the second quarter. Investec Asset Management LTD now owns 1,859,622 shares of the shipping company’s stock valued at $54,896,000 after acquiring an additional 12,311 shares during the last quarter. Russell Investments Group Ltd. lifted its position in Scorpio Tankers by 153.5% in the third quarter. Russell Investments Group Ltd. now owns 578,309 shares of the shipping company’s stock valued at $17,209,000 after acquiring an additional 350,188 shares during the last quarter. Nuveen Asset Management LLC purchased a new stake in Scorpio Tankers in the second quarter valued at $13,497,000. Northern Trust Corp lifted its position in Scorpio Tankers by 3.4% in the second quarter. Northern Trust Corp now owns 434,770 shares of the shipping company’s stock valued at $12,834,000 after acquiring an additional 14,155 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Scorpio Tankers by 76.3% in the second quarter. Renaissance Technologies LLC now owns 413,320 shares of the shipping company’s stock valued at $12,201,000 after acquiring an additional 178,900 shares during the last quarter. 50.24% of the stock is owned by hedge funds and other institutional investors.

Scorpio Tankers stock opened at $31.17 on Tuesday. The stock has a market cap of $1.81 billion, a P/E ratio of -6.84 and a beta of 1.04. The company has a fifty day simple moving average of $32.97 and a 200-day simple moving average of $28.57. Scorpio Tankers has a 12-month low of $15.00 and a 12-month high of $36.85. The company has a current ratio of 0.68, a quick ratio of 0.66 and a debt-to-equity ratio of 1.38.

Scorpio Tankers (NYSE:STNG) last announced its quarterly earnings results on Thursday, November 7th. The shipping company reported ($0.92) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.06). Scorpio Tankers had a negative net margin of 12.03% and a negative return on equity of 4.13%. The company had revenue of $136.07 million during the quarter, compared to analysts’ expectations of $142.53 million. During the same period last year, the firm earned ($0.21) earnings per share. Scorpio Tankers’s revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts forecast that Scorpio Tankers will post -0.6 earnings per share for the current fiscal year.

The business also recently declared a dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 22nd. Scorpio Tankers’s dividend payout ratio (DPR) is presently -8.77%.

Scorpio Tankers Company Profile

Scorpio Tankers Inc, together with its subsidiaries, engages in the seaborne transportation of refined petroleum products worldwide. As of March 20, 2019, its owned or finance leased 109 product tankers, including 38 LR2 tankers, 12 LR1 tankers, 45 MR tankers, and 14 Handymax tankers with an average age of 3.6 years; and time or bareboat chartered-in 10 product tankers comprising 3 MR tankers and 7 Handymax tankers.

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