International Seaways (NYSE:INSW) CFO Sells $66,500.00 in Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $66.50, for a total transaction of $66,500.00. Following the completion of the sale, the chief financial officer directly owned 100,521 shares of the company’s stock, valued at $6,684,646.50. This represents a 0.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Jeffrey Pribor also recently made the following trade(s):

• On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $63.29, for a total transaction of $63,290.00.
• On Thursday, January 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $55.68, for a total transaction of $55,680.00.

International Seaways Stock Up 3.2%

Shares of INSW stock opened at $71.55 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. International Seaways Inc. has a one year low of $27.20 and a one year high of $78.51. The company’s fifty day moving average price is $64.09 and its 200-day moving average price is $54.23. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 11.48 and a beta of -0.23.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, February 26th. The transportation company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.70. International Seaways had a return on equity of 13.92% and a net margin of 36.67%.The business had revenue of $267.88 million during the quarter, compared to analyst estimates of $245.29 million. During the same quarter in the prior year, the business posted $0.90 EPS. International Seaways’s revenue for the quarter was up 37.7% compared to the same quarter last year. Sell-side analysts expect that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, March 20th. International Seaways’s dividend payout ratio (DPR) is 7.70%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on INSW shares. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. BTIG Research lifted their price objective on shares of International Seaways from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Benchmark reissued a “buy” rating on shares of International Seaways in a report on Thursday, February 26th. Wall Street Zen upgraded shares of International Seaways from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $68.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of INSW. First Horizon Corp raised its stake in International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of International Seaways by 99.5% in the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after buying an additional 378 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of International Seaways in the 4th quarter worth $44,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of International Seaways in the 4th quarter worth about $46,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of International Seaways by 583.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after buying an additional 822 shares in the last quarter. 67.29% of the stock is owned by hedge funds and other institutional investors.

About International Seaways

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.