Scorpio Tankers Inc. Buyback
OLI recorded this information on 6/1/2023
Company:
Scorpio Tankers Inc.
Buyback:
STNG buyback
Share Amount Authorized:
250,000,000
Buyback Details:
Scorpio Tankers Inc. (NYSE:STNG) (the "Company") announced today that it has recently purchased 851,978 of its common shares in the open market at an average price of $46.74 per share as part of the Company's securities repurchase program. The Company currently has 55,331,704 common shares outstanding. On May 31, 2023, the Company's Board of Directors replenished the 2023 Securities Repurchase Program to purchase up to an aggregate of $250 million of the Company's securities which, in addition to its common shares also consist of its Senior Unsecured Notes Due 2025 (NYSE: SBBA). This program resets the program that was previously replenished on May 1, 2023. There is $250 million available under the 2023 Securities Repurchase Program as of June 1, 2023.
Scorpio Tankers is a holding company. Through its subsidiaries, Co. provides seaborne transportation of refined petroleum products worldwide. Co.'s fleet consists of several wholly owned, leased financed or bareboat chartered-in tankers, such as Long Range 2, Long Range 1, Medium Range and Handymax. Co. operates its vessels in commercial pools operated by related entities, on time charters or in the spot market. Co. participates in the following pools: the Scorpio LR2 Pool, the Scorpio LR1 Pool, the Scorpio MR Pool and the Scorpio Handymax Tanker Pool.
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Avg. Broker Rec.
 
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Strong Buy (3.78 out of 4) 70th percentile
(ranked higher than approx. 70% of all stocks covered)
Analysts' Target Price: STNG Stock Forecast Based on Zacks ABR data; powered by Xignite |
