Scorpio Tankers Expands Fleet and Repurchases 2M Shares
May 12, 2023
Trending News ☀️
Scorpio Tankers ($NYSE:STNG), one of the world’s leading providers of seaborne transportation of refined petroleum products, has recently announced that they have exercised options to purchase five ships, as well as repurchased two million shares. This move is part of the company’s ongoing effort to expand their fleet and increase their presence in the tanker industry. The company owns and operates a fleet of modern tankers that are used to transport refined petroleum products including gasoline, diesel, and naphtha. Their vessels are capable of sailing in both deep and shallow waters, which means they can service a wide variety of locations. Through their extensive network of partnerships, Scorpio Tankers is able to offer their clients safe and reliable transportation services at competitive rates. The recent expansion of their fleet and share repurchase are key steps for Scorpio Tankers in their effort to remain a leader in the tanker industry.
By adding more vessels to their fleet, Scorpio Tankers is able to further expand their reach and increase their profitability. The repurchase of two million shares also helps the company strengthen their financial position and allows them to maximize value for their shareholders. Overall, Scorpio Tankers is making great strides toward achieving their goals. Through prudent investing and financial planning, they have put themselves in a position where they can continue to provide reliable transportation services with competitive rates.
Share Price
Scorpio Tankers announced on Thursday that they have expanded their fleet and repurchased 2 million shares of their own stock. Following the news, their stock opened at $47.1 and closed at $49.1, up by 2.7% from the prior closing price of 47.8. The company has stated that the fleet expansion and repurchase of their shares will enable them to increase their capacity and create more value for their shareholders. In addition, this news has prompted a strong reaction from investors, as it signals Scorpio Tankers’ confidence in both the short-term and long-term prospects of their business. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Scorpio Tankers. More…
| Total Revenues | Net Income | Net Margin |
| 1.77k | 914.94 | 51.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Scorpio Tankers. More…
| Operations | Investing | Financing |
| 1.04k | 352.54 | -1.02k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Scorpio Tankers. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 4.69k | 2.14k | 42.63 |
Key Ratios Snapshot
Some of the financial key ratios for Scorpio Tankers are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 32.5% | 87.5% | 60.5% |
| FCF Margin | ROE | ROA |
| 57.0% | 26.5% | 14.3% |
Analysis
At GoodWhale, we offer analysis of SCORPIO TANKERS’s financials to help you make informed decisions about your investments. Our risk ratings place SCORPIO TANKERS as a low risk investment in terms of financial and business aspects. However, GoodWhale has also detected two risk warnings in the balance sheet and financial journal that you may want to consider before investing. To gain access to our findings, simply register with us and check it out today. More…
Peers
Scorpio Tankers Inc is one of the largest tanker shipping companies in the world. Founded in 2009, the company is headquartered in Monaco. Scorpio Tankers Inc has a fleet of over 100 tankers and operates in over 30 countries. The company’s main competitors are TORM PLC, Petro Times JSC, and Pilipinas Shell Petroleum Corp.
– TORM PLC ($LTS:0RG4)
In 2022, Dorman Products, Inc. had a market capitalization of $16.22 billion and a return on equity of 17.86%. Dorman Products, Inc. is a leading supplier of original equipment dealer “exclusive” automotive and heavy duty replacement parts, automotive hardware, brake parts, and fasteners to the automotive aftermarket.
– Petro Times JSC ($HNX:PPT)
Pilipinas Shell Petroleum Corporation is a publicly listed company in the Philippines with a market capitalization of 28.95 billion as of 2022. The company is engaged in the business of refining, marketing, and distributing petroleum products in the Philippines. The company has a return on equity of 17.04%.
Summary
Scorpio Tankers Inc. (NYSE:STNG) has recently announced that it has exercised purchase options for five vessels and a buyback of 2 million shares. The company is an international provider of marine transportation services, utilizing a fleet of product tankers to transport crude oil and refined petroleum products worldwide. Analysts have noted that the move by Scorpio Tankers could be seen as a positive sign for investors, as it indicates an optimistic outlook for the company’s future prospects.
Furthermore, the share buyback program should provide additional upside for shareholders by reducing the company’s outstanding shares and improving the overall financial performance. Overall, the recent news from Scorpio Tankers provides evidence of well-thought investment decisions, which should bode well for shareholders in the near future.
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