International Seaways (NYSE:INSW) Reaches New 1-Year High at $55.65

International Seaways, Inc. (NYSE:INSW)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $55.65 and last traded at $55.50, with a volume of 112274 shares. The stock had previously closed at $55.13.

Analysts Set New Price Targets

INSW has been the topic of a number of research reports. StockNews.com cut International Seaways from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus lifted their price target on International Seaways from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $66.00 price objective on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Stock Up 0.4 %

The business has a 50-day simple moving average of $52.78 and a two-hundred day simple moving average of $49.83. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 4.90 and a beta of -0.05. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35.

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

International Seaways Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $1.20 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $4.80 annualized dividend and a dividend yield of 8.67%. International Seaways’s dividend payout ratio is currently 4.27%.

Insider Activity

In related news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $52.02, for a total transaction of $844,804.80. Following the sale, the chief executive officer now directly owns 136,260 shares in the company, valued at approximately $7,088,245.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now 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 can be accessed through this link. Also, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the transaction, the chief executive officer now directly owns 136,260 shares in the company, valued at approximately $7,088,245.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,846 shares of company stock worth $3,073,978. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Bfsg LLC acquired a new stake in International Seaways during the 4th quarter worth $167,000. U S Global Investors Inc. raised its stake in 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 buying an additional 2,500 shares during the period. Cim LLC acquired a new stake in International Seaways during the 4th quarter worth $192,000. Peterson Wealth Services acquired a new stake in International Seaways during the 4th quarter worth $203,000. Finally, Los Angeles Capital Management LLC acquired a new stake in International Seaways during the 1st quarter worth $203,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

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.