International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 2,000 Shares

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $84.23, for a total value of $168,460.00. Following the completion of the sale, the chief executive officer owned 179,745 shares in the company, valued at approximately $15,139,921.35. The trade was a 1.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

International Seaways Stock Performance

NYSE:INSW opened at $85.40 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. International Seaways Inc. has a 52-week low of $35.60 and a 52-week high of $92.66. The firm has a market cap of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09. The business’s fifty day moving average is $76.55 and its 200 day moving average is $63.22.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The company had revenue of $325.48 million for the quarter, compared to analyst estimates of $279.34 million. During the same period in the previous year, the company posted $0.80 EPS. The firm’s revenue for the quarter was up 77.5% compared to the same quarter last year. Research analysts predict that International Seaways Inc. will post 14.99 EPS for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s payout ratio is presently 4.37%.

Hedge Funds Weigh In On International Seaways

A number of hedge funds and other institutional investors have recently modified their holdings of INSW. Arrowstreet Capital Limited Partnership boosted its holdings in shares of International Seaways by 167.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after purchasing an additional 380,931 shares in the last quarter. Amundi purchased a new position in shares of International Seaways in the 4th quarter worth about $13,663,000. Acorn Financial Advisory Services Inc. ADV bought a new stake in shares of International Seaways in the 1st quarter valued at about $13,145,000. Tudor Investment Corp ET AL bought a new stake in shares of International Seaways in the 4th quarter valued at about $7,087,000. Finally, American Century Companies Inc. lifted its stake in shares of International Seaways by 7.5% in the 3rd quarter. American Century Companies Inc. now owns 1,994,978 shares of the transportation company’s stock valued at $91,929,000 after acquiring an additional 139,868 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INSW has been the subject of several recent analyst reports. BTIG Research boosted their target price on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and set a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Benchmark restated a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Finally, Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.50.

International Seaways Company Profile

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.