International Seaways (NYSE:INSW) Trading 6.2% Higher

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Jefferies Financial Group restated a “buy” rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Stifel Nicolaus upped their price target on International Seaways from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Friday, April 19th.

International Seaways Price Performance

The stock has a fifty day simple moving average of $53.34 and a 200-day simple moving average of $50.33. The company has a market capitalization of $3.00 billion, a PE ratio of 5.30 and a beta of -0.05. The company has a current ratio of 2.38, a quick ratio of 2.37 and a debt-to-equity ratio of 0.35.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The company had revenue of $250.73 million during the quarter, compared to the consensus estimate of $239.36 million. Equities analysts anticipate that International Seaways, Inc. will post 9.33 earnings per share for the current year.

International Seaways Dividend Announcement

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

Insider Transactions at International Seaways

In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.22, for a total value of $196,992.12. Following the completion of the transaction, the director now directly owns 26,056 shares of the company’s stock, valued at $1,334,588.32. The sale was disclosed in a filing with the SEC, which is available at this link. In other International Seaways news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total value of $727,491.20. Following the completion of the sale, the chief executive officer now directly owns 148,942 shares of the company’s stock, valued at approximately $7,874,563.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $196,992.12. Following the transaction, the director now directly owns 26,056 shares in the company, valued at approximately $1,334,588.32. The disclosure for this sale can be found here. In the last three months, insiders sold 58,846 shares of company stock valued at $3,074,618. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC boosted its position in shares of International Seaways by 173.4% in the first quarter. Headlands Technologies LLC now owns 905 shares of the transportation company’s stock worth $48,000 after acquiring an additional 574 shares during the last quarter. Bfsg LLC acquired a new position in shares of International Seaways in the 4th quarter valued at about $167,000. U S Global Investors Inc. grew its holdings in shares of International Seaways by 144.5% during the 4th quarter. U S Global Investors Inc. now owns 4,230 shares of the transportation company’s stock worth $192,000 after purchasing an additional 2,500 shares during the period. Cim LLC acquired a new stake in International Seaways during the 4th quarter worth approximately $192,000. Finally, Peterson Wealth Services purchased a new position in International Seaways in the fourth quarter valued at approximately $203,000. Hedge funds and other 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.