At a share price of around $13 this company seems to be a very interesting value play for the next 1-3 years. Due to the impacts of Covid-19 the share price has dropped quite a bit. Robert Bugbee of Scorpio Tankers Update Interview 18.06.2020
My avarage entry point is now $12.56. A bit cheaper as these guys... MONACO, Aug. 18, 2020 (GLOBE NEWSWIRE) Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced that Scorpio Services Holdings Limited (“SSH”), a related party, has purchased 100,000 common shares of the Company in the open market at an average price of $12.67 per share. https://www.globenewswire.com/news-...ares-by-Scorpio-Services-Holding-Limited.html
This one is trading at a new low. Guess it is tanking... Nonetheless I am still confident on a nice return 1-2 years down the road.
Another purchase. I assume the bottom must be somewhere at these levels imo... Scorpio Tankers Inc. Announces Purchase of Common Shares by Scorpio Services Holding Limited Sep 1, 2020 https://www.scorpiotankers.com/scor...shares-by-scorpio-services-holding-limited-8/
Based on today's news I assume the management of Scorpio Tankers is confident that we are near the bottom... Scorpio Tankers Inc. Announces Update on the Repurchase of Its Securities and a New $250 Million Securities Repurchase Program Sep 8, 2020 https://www.scorpiotankers.com/scor...ew-250-million-securities-repurchase-program/
Scorpio Tankers Inc. Announces an Update on Daily TCE Rates Sep 9, 2020 https://www.scorpiotankers.com/scorpio-tankers-inc-announces-an-update-on-daily-tce-rates-2/ “Despite both customary seasonal weakness and drawdowns of the extraordinary inventory builds during Q1 and Q2, the Company’s TCE rates in Q3-20 outperformed those in Q3-19. This trend of higher quarterly Company TCE rates year-over-year has continued since Q4-18 and suggests that the underlying supply and demand drivers in our market have continued to tighten. Demand recovery and curtailed refinery throughput have resulted in a significant reduction of refined product floating storage inventories from 104.1 million barrels in May to 33.9 million barrels today. The economic rebound from COVID-19, limited fleet supply growth, and ton-mile expansion from refinery closures and additions leave us optimistic as we look to the remainder of the year and 2021. “We continue to manage our liquidity in a way we believe will create value for our shareholders. The recent discount in our share price does not reflect the underlying performance of our business nor our outlook for the near and medium term. This has led to selective share repurchases at highly accretive levels. That said, our focus will remain on reducing our leverage as well as managing the cost and duration of our liabilities. We have retired a significant portion of our May 2022 convertible bond at attractive levels.”
The President of the company seems to be confident that we are near the lows... Scorpio Tankers Inc. Announces Purchase of Call Options by President of the Company Oct 13, 2020 MONACO, Oct. 13, 2020 (GLOBE NEWSWIRE) — Scorpio Tankers Inc. (NYSE:STNG) (“Scorpio Tankers,” or the “Company”) announced the President of the Company, Robert Bugbee, has purchased call options on an aggregate of 200,000 common shares (or 2,000 call option contracts) of the Company for total consideration of $266,000. The option contracts have a strike price of $12.00 and an expiration of January 2021. https://www.scorpiotankers.com/scor...f-call-options-by-president-of-the-company-5/
This one has recovered nicely and looks very good now. I am confident that the upwards movement will continue in the longrun.
