Scorpio Tankers Sees Unusually High Options Volume (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNG) was the recipient of some unusual options trading on Tuesday. Stock traders purchased 6,820 call options on the company. This is an increase of approximately 63% compared to the average volume of 4,193 call options.

Institutional Trading of Scorpio Tankers

Institutional investors and hedge funds have recently modified their holdings of the business. Mountaineer Partners Management LLC raised its position in Scorpio Tankers by 6,926.8% in the third quarter. Mountaineer Partners Management LLC now owns 8,371,832 shares of the shipping company’s stock valued at $596,912,000 after purchasing an additional 8,252,691 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Scorpio Tankers by 8,249.0% in the third quarter. International Assets Investment Management LLC now owns 1,880,188 shares of the shipping company’s stock valued at $134,057,000 after buying an additional 1,857,668 shares during the period. Acadian Asset Management LLC increased its stake in shares of Scorpio Tankers by 1,357.2% in the second quarter. Acadian Asset Management LLC now owns 283,505 shares of the shipping company’s stock valued at $23,034,000 after buying an additional 264,049 shares during the period. American Century Companies Inc. increased its stake in shares of Scorpio Tankers by 20.3% in the second quarter. American Century Companies Inc. now owns 1,185,762 shares of the shipping company’s stock valued at $96,391,000 after buying an additional 199,858 shares during the period. Finally, Barclays PLC increased its stake in shares of Scorpio Tankers by 873.6% in the third quarter. Barclays PLC now owns 188,195 shares of the shipping company’s stock valued at $13,418,000 after buying an additional 168,866 shares during the period. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Stock Performance

NYSE STNG traded up $4.00 on Tuesday, reaching $52.17. The stock had a trading volume of 466,384 shares, compared to its average volume of 744,174. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18. The firm has a fifty day moving average of $51.69 and a two-hundred day moving average of $65.29. Scorpio Tankers has a 1-year low of $45.94 and a 1-year high of $84.67. The company has a market cap of $2.64 billion, a P/E ratio of 3.74 and a beta of 0.12.

Scorpio Tankers (NYSE:STNG) last issued its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.61 by $0.14. The firm had revenue of $267.99 million for the quarter, compared to analyst estimates of $267.91 million. Scorpio Tankers had a return on equity of 22.56% and a net margin of 52.40%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.91 EPS. On average, equities research analysts anticipate that Scorpio Tankers will post 11.04 EPS for the current year.

Scorpio Tankers Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently weighed in on STNG shares. Bank of America decreased their target price on shares of Scorpio Tankers from $73.00 to $71.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Stifel Nicolaus cut Scorpio Tankers from a “buy” rating to a “hold” rating and lowered their price target for the company from $90.00 to $65.00 in a research report on Wednesday, October 23rd. Jefferies Financial Group lowered their target price on shares of Scorpio Tankers from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, December 12th. Evercore ISI cut their price target on shares of Scorpio Tankers from $84.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Finally, Fearnley Fonds raised shares of Scorpio Tankers to a “hold” rating in a research note on Friday, September 27th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock 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.