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

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.34, for a total value of $162,680.00. Following the transaction, the chief executive officer directly owned 177,745 shares of the company’s stock, valued at $14,457,778.30. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

International Seaways Trading Up 3.6%

Shares of International Seaways stock opened at $84.37 on Friday. International Seaways Inc. has a 12-month low of $36.03 and a 12-month high of $92.66. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $81.23 and its 200-day moving average is $67.89. The stock has a market cap of $4.18 billion, a P/E ratio of 7.68 and a beta of -0.12.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, topping 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 firm had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same quarter in the previous year, the business earned $0.80 earnings per share. The business’s revenue was up 77.5% compared to the same quarter last year. Equities research analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

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

Analysts Set New Price Targets

INSW has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 9th. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 target price on shares of International Seaways in a research note on Friday, May 8th. Weiss Ratings raised International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. 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, International Seaways has a consensus rating of “Buy” and a consensus price target of $83.50.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently bought and sold shares of the company. First Horizon Corp raised its position 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. Leonteq Securities AG acquired a new stake in shares of International Seaways during the fourth quarter valued at about $44,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of International Seaways during the fourth quarter worth about $46,000. Rockefeller Capital Management L.P. grew its holdings in shares of International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock worth $47,000 after purchasing an additional 822 shares during the last quarter. Finally, Founders Capital Management increased its stake in shares of International Seaways by 37.5% in the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after buying an additional 300 shares during the period. 67.29% of the stock is owned by 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.