Scorpio Tankers Inc. (STNG) To Go Ex-Dividend on November 13th

Scorpio Tankers Inc. (NYSE:STNG) announced a quarterly dividend on Monday, October 26th. Investors of record on Friday, November 13th will be paid a dividend of $0.75 per share by the shipping company on Friday, December 4th. This represents a $3.00 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 13th. This is a 66.7% increase from Scorpio Tankers’s previous quarterly dividend of $0.45.

Scorpio Tankers has raised its dividend payment by an average of 0.3% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Scorpio Tankers has a payout ratio of 49.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Scorpio Tankers to earn $8.72 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 34.4%.

Scorpio Tankers Stock Up 1.1%

STNG opened at $81.41 on Wednesday. Scorpio Tankers has a twelve month low of $48.93 and a twelve month high of $95.60. The business has a 50 day moving average price of $84.44 and a 200 day moving average price of $77.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 20.59 and a current ratio of 20.65. The firm has a market cap of $4.10 billion, a P/E ratio of 4.30, a price-to-earnings-growth ratio of 1.63 and a beta of -0.10.

Scorpio Tankers (NYSE:STNG) last announced its earnings results on Wednesday, October 28th. The shipping company reported $2.49 EPS for the quarter, topping the consensus estimate of $2.06 by $0.43. The firm had revenue of $266.47 million for the quarter, compared to the consensus estimate of $243.98 million. Scorpio Tankers had a net margin of 77.07% and a return on equity of 17.06%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.49 EPS. Research analysts forecast that Scorpio Tankers will post 15.59 EPS for the current year.

Insider Transactions at Scorpio Tankers

In other Scorpio Tankers news, COO Cameron Mackey sold 125,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $89.03, for a total value of $11,128,750.00. Following the completion of the sale, the chief operating officer directly owned 739,531 shares in the company, valued at $65,840,444.93. This 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 is available through the SEC website. Also, CEO Emanuele Lauro sold 234,637 shares of the stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $92.88, for a total value of $21,793,084.56. Following the sale, the chief executive officer directly owned 913,162 shares of the company’s stock, valued at approximately $84,814,486.56. The trade was a 20.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 654,770 shares of company stock valued at $58,404,395. Corporate insiders own 7.34% of the company’s stock.

Institutional Trading of Scorpio Tankers

A number of institutional investors have recently modified their holdings of STNG. Focus Advisor Solutions LLC boosted its position in Scorpio Tankers by 101.1% during the 3rd quarter. Focus Advisor Solutions LLC now owns 11,123 shares of the shipping company’s stock worth $931,000 after acquiring an additional 5,591 shares during the last quarter. Voya Investment Management LLC grew its stake in Scorpio Tankers by 69.3% in the third quarter. Voya Investment Management LLC now owns 19,306 shares of the shipping company’s stock valued at $1,616,000 after purchasing an additional 7,903 shares in the last quarter. HighTower Advisors LLC grew its stake in Scorpio Tankers by 25.6% in the third quarter. HighTower Advisors LLC now owns 4,799 shares of the shipping company’s stock valued at $402,000 after purchasing an additional 977 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Scorpio Tankers by 20,633.3% during the 3rd quarter. Bessemer Group Inc. now owns 1,866 shares of the shipping company’s stock worth $156,000 after purchasing an additional 1,857 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in shares of Scorpio Tankers by 54.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 24,764 shares of the shipping company’s stock worth $2,073,000 after purchasing an additional 8,716 shares during the last quarter. 54.64% of the stock is currently owned by institutional investors.

Scorpio Tankers Company Profile

Scorpio Tankers Inc. is a marine transportation company focused on moving refined petroleum products around the world. Its product tankers carry cargoes such as gasoline, diesel, jet fuel and naphtha between refineries, storage facilities and end markets. The company serves international shipping routes, connecting major refining and consumption regions. Its fleet includes medium-range and larger product tankers designed to transport petroleum products across regional and long-distance routes. Scorpio Tankers was founded in 2009 and is headquartered in Monaco.