International Seaways (NYSE:INSW) CEO Sells $162,680.00 in Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.34, for a total transaction of $162,680.00. Following the completion of the transaction, the chief executive officer directly owned 177,745 shares in the company, valued at $14,457,778.30. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

International Seaways Stock Performance

Shares of INSW stock opened at $84.37 on Friday. International Seaways Inc. has a 52 week low of $36.03 and a 52 week high of $92.66. The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 7.68 and a beta of -0.12. The company has a 50-day simple moving average of $81.39 and a 200 day simple moving average of $68.00. 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 (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. During the same period in the prior year, the firm earned $0.80 EPS. The business’s revenue was up 77.5% on a year-over-year basis. On average, sell-side analysts predict that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently declared 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. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, June 12th. International Seaways’s dividend payout ratio (DPR) is presently 4.37%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INSW. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Wall Street Zen upgraded shares of International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. BTIG Research raised their price target on shares of International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, International Seaways currently has an average rating of “Buy” and an average target price of $83.50.

Institutional Investors Weigh In On International Seaways

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in International Seaways by 11.2% during the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after acquiring an additional 118 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock valued at $452,000 after purchasing an additional 200 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of International Seaways by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after purchasing an additional 241 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock valued at $959,000 after purchasing an additional 275 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of International Seaways by 16.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

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.