International Seaways (NYSE:INSW) Shares Up 6.2%

International Seaways, Inc. (NYSE:INSW)’s stock price shot up 6.2% on Wednesday . The company traded as high as $60.38 and last traded at $60.14. 600,993 shares were traded during mid-day trading, an increase of 11% from the average session volume of 540,984 shares. The stock had previously closed at $56.65.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Nicolaus lifted their price objective on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group reaffirmed a “buy” rating and set a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. Finally, StockNews.com downgraded International Seaways from a “buy” rating to a “hold” rating in a report on Saturday, April 27th.

International Seaways Stock Performance

The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average price of $53.34 and a two-hundred day moving average price of $50.33. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 5.30 and a beta of -0.05.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The firm had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. International Seaways had a return on equity of 32.03% and a net margin of 51.92%. Analysts predict that International Seaways, Inc. will post 9.33 EPS for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 annualized dividend and a yield of 7.83%. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the sale, the chief financial officer now directly owns 82,161 shares of the company’s stock, valued at approximately $4,361,927.49. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.09, for a total transaction of $53,090.00. Following the completion of the transaction, the chief financial officer now directly owns 82,161 shares in the company, valued at $4,361,927.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $51.22, for a total transaction of $196,992.12. Following the transaction, the director now owns 26,056 shares of the company’s stock, valued at approximately $1,334,588.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,846 shares of company stock valued at $3,074,618. 2.00% of the stock is owned by company insiders.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Headlands Technologies LLC raised its stake in shares of International Seaways by 173.4% during the 1st quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after purchasing an additional 574 shares in the last quarter. Bfsg LLC acquired a new stake in International Seaways in the fourth quarter valued at $167,000. Los Angeles Capital Management LLC bought a new position in shares of International Seaways in the 1st quarter valued at about $203,000. Sciencast Management LP bought a new stake in shares of International Seaways in the 1st quarter valued at about $208,000. Finally, Baker Ellis Asset Management LLC acquired a new stake in International Seaways in the 1st quarter valued at about $213,000. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

International Seaways, Inc owns and operates a fleet of oceangoing vessels for the transportation of crude oil and petroleum products in the international flag trade. It operates in two segments: Crude Tankers and Product Carriers. As of December 31, 2023, the company owned a fleet of 73 vessels. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.