On April 3, 2023 at 09:49:25 ET an unusually large $360.64K block of Put contracts in Scorpio Tankers (STNG) was sold, with a strike price of $42.00 / share, expiring in 291 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 1.87 sigmas above the mean, placing it in the 96.33 percentile of all recent large trades made in STNG options.
This trade was first picked up on Fintel's real time Unusual Option Trades tool, where unusual option trades are highlighted.
Analyst Price Forecast Suggests 28.37% Upside
As of March 31, 2023, the average one-year price target for Scorpio Tankers is $72.29. The forecasts range from a low of $60.60 to a high of $90.30. The average price target represents an increase of 28.37% from its latest reported closing price of $56.31.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Scorpio Tankers is $1,244MM, a decrease of 20.40%. The projected annual non-GAAP EPS is $8.58.
What is the Fund Sentiment?
There are 431 funds or institutions reporting positions in Scorpio Tankers. This is an increase of 49 owner(s) or 12.83% in the last quarter. Average portfolio weight of all funds dedicated to STNG is 0.33%, an increase of 41.45%. Total shares owned by institutions increased in the last three months by 20.14% to 42,818K shares. The put/call ratio of STNG is 0.52, indicating a bullish outlook.
What are Large Shareholders Doing?
Goldman Sachs Group holds 1,596K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 1,195K shares, representing an increase of 25.09%. The firm increased its portfolio allocation in STNG by 65.32% over the last quarter.
D. E. Shaw & holds 1,215K shares representing 2.16% ownership of the company. In it's prior filing, the firm reported owning 533K shares, representing an increase of 56.15%. The firm increased its portfolio allocation in STNG by 105.76% over the last quarter.
Two Sigma Investments holds 1,187K shares representing 2.11% ownership of the company. In it's prior filing, the firm reported owning 950K shares, representing an increase of 19.93%. The firm increased its portfolio allocation in STNG by 47.57% over the last quarter.
Group One Trading holds 1,125K shares representing 2.00% ownership of the company. In it's prior filing, the firm reported owning 921K shares, representing an increase of 18.15%. The firm increased its portfolio allocation in STNG by 84.97% over the last quarter.
IWM - iShares Russell 2000 ETF holds 1,079K shares representing 1.92% ownership of the company. In it's prior filing, the firm reported owning 1,056K shares, representing an increase of 2.13%. The firm increased its portfolio allocation in STNG by 18.35% over the last quarter.
Scorpio Tankers Declares $0.20 Dividend
On February 15, 2023 the company declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Shareholders of record as of March 7, 2023 received the payment on March 31, 2023. Previously, the company paid $0.10 per share.
At the current share price of $56.31 / share, the stock's dividend yield is 1.42%. Looking back five years and taking a sample every week, the average dividend yield has been 1.99%, the lowest has been 0.68%, and the highest has been 4.47%. The standard deviation of yields is 0.78 (n=237).
The current dividend yield is 0.73 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.07. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.
Scorpio Tankers Background Information
(This description is provided by the company.)
Scorpio Tankers is a provider of marine transportation of petroleum products worldwide. The Company currently owns or finance leases 109 product tankers (38 LR2 tankers, 12 LR1 tankers, 45 MR tankers and 14 Handymax tankers) with an average age of 3.3 years and time or bareboat charters‐in 13 product tankers (one LR2 tanker, five MR tankers and seven Handymax tankers).
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
