Traders Purchase High Volume of Scorpio Tankers Call Options (NYSE:STNG)

Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) was the target of some unusual options trading activity on Tuesday. Traders acquired 6,820 call options on the stock. This represents an increase of approximately 63% compared to the average volume of 4,193 call options.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Scorpio Tankers

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Scorpio Tankers by 970.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 321 shares of the shipping company's stock worth $25,000 after buying an additional 291 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Scorpio Tankers during the third quarter valued at about $28,000. GAMMA Investing LLC grew its position in shares of Scorpio Tankers by 204.1% in the fourth quarter. GAMMA Investing LLC now owns 599 shares of the shipping company's stock valued at $30,000 after purchasing an additional 402 shares during the last quarter. Quarry LP increased its stake in shares of Scorpio Tankers by 52.8% in the second quarter. Quarry LP now owns 663 shares of the shipping company's stock worth $54,000 after purchasing an additional 229 shares during the period. Finally, Newbridge Financial Services Group Inc. lifted its position in shares of Scorpio Tankers by 34.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 695 shares of the shipping company's stock worth $57,000 after purchasing an additional 177 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors and hedge funds.

Scorpio Tankers Stock Up 10.1 %

STNG traded up $4.85 on Tuesday, reaching $53.02. 1,797,054 shares of the company traded hands, compared to its average volume of 1,094,364. The stock's 50 day moving average price is $51.56 and its 200-day moving average price is $65.09. The company 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 52-week low of $45.94 and a 52-week high of $84.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.21 and a quick ratio of 2.18.

Scorpio Tankers (NYSE:STNG - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The shipping company reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.14. The business had revenue of $267.99 million during 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%. Scorpio Tankers's quarterly revenue was down 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.91 earnings per share. On average, sell-side analysts expect that Scorpio Tankers will post 11.04 EPS for the current fiscal year.

Scorpio Tankers Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, November 22nd. Scorpio Tankers's dividend payout ratio is 11.47%.

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.