Scorpio Tankers (NYSE:STNG) Reaches New 52-Week High - Still a Buy?

Key Points

• Scorpio Tankers shares reached a new 52-week high, trading as high as $92.75 and up 3.8%, with a market capitalization of approximately $4.46 billion.
• Analyst sentiment is mixed: five analysts rate the stock a Buy, five a Hold and one a Sell, resulting in a consensus Hold rating and a $92.57 price target. Targets range from $97 to $110 among bullish analysts.
• The company reported strong quarterly results, with earnings of $2.49 per share and revenue of $266.47 million, both exceeding estimates; however, insiders sold approximately $36.6 million of stock over the past 90 days.

Shares of Scorpio Tankers Inc. (NYSE:STNG - Get Free Report) hit a new 52-week high on Wednesday. The company traded as high as $92.75 and last traded at $88.6010, with a volume of 898,827 shares. The stock had previously closed at $85.33.

Analysts Set New Price Targets

Several research analysts have issued reports on STNG shares. Zacks Research cut Scorpio Tankers from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 30th. Jefferies Financial Group restated a "buy" rating and set a $100.00 target price on shares of Scorpio Tankers in a research report on Tuesday, August 4th. Evercore reaffirmed an "outperform" rating and set a $97.00 price target on shares of Scorpio Tankers in a research note on Tuesday. Bank of America reaffirmed an "underperform" rating on shares of Scorpio Tankers in a research note on Tuesday, September 8th. Finally, BTIG Research increased their price target on shares of Scorpio Tankers from $100.00 to $110.00 and gave the company a "buy" rating in a report on Friday, September 18th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $92.57.

Scorpio Tankers Trading Up 3.8%

The business has a 50 day moving average of $82.91 and a 200-day moving average of $76.25. The stock has a market cap of $4.46 billion, a PE ratio of 5.53 and a beta of -0.17. The company has a current ratio of 6.93, a quick ratio of 6.89 and a debt-to-equity ratio of 0.14.

Scorpio Tankers (NYSE:STNG - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The shipping company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.43. Scorpio Tankers had a return on equity of 16.43% and a net margin of 67.16%. The company had revenue of $266.47 million during the quarter, compared to the consensus estimate of $243.98 million. During the same quarter last year, the business posted $1.49 earnings per share. Scorpio Tankers's revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Scorpio Tankers Inc. will post 11.28 EPS for the current year.

Insider Activity

In related news, COO Cameron Mackey sold 125,000 shares of the firm's stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $89.03, for a total transaction of $11,128,750.00. Following the sale, the chief operating officer owned 739,531 shares in the company, valued at approximately $65,840,444.93. This trade represents a 14.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Auste Adelborg sold 6,834 shares of Scorpio Tankers stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $89.64, for a total transaction of $612,599.76. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 420,133 shares of company stock worth $36,611,311. 7.34% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Scorpio Tankers

Several hedge funds have recently made changes to their positions in the business. Hanseatic Management Services Inc. purchased a new stake in shares of Scorpio Tankers in the third quarter valued at $272,000. Signaturefd LLC lifted its position in Scorpio Tankers by 36.2% during the third quarter. Signaturefd LLC now owns 2,395 shares of the shipping company's stock worth $200,000 after buying an additional 636 shares during the period. U S Global Investors Inc. lifted its position in Scorpio Tankers by 10.9% during the third quarter. U S Global Investors Inc. now owns 10,513 shares of the shipping company's stock worth $880,000 after buying an additional 1,033 shares during the period. Root Financial Partners LLC acquired a new stake in Scorpio Tankers in the 3rd quarter worth about $50,000. Finally, Krilogy Financial LLC boosted its stake in Scorpio Tankers by 7.8% in the 3rd quarter. Krilogy Financial LLC now owns 3,857 shares of the shipping company's stock worth $337,000 after buying an additional 278 shares during the last quarter. Institutional investors and hedge funds own 54.64% of the company's stock.

Scorpio Tankers Company Profile

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.

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