International Seaways (NYSE:INSW) CFO Sells $83,720.00 in Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $83.72, for a total value of $83,720.00. Following the completion of the transaction, the chief financial officer owned 102,984 shares in the company, valued at $8,621,820.48. This trade represents a 0.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $74.50, for a total value of $74,500.00.
• On Monday, March 16th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $66.50, for a total value of $66,500.00.
• 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 value of $63,290.00.

International Seaways Stock Performance

Shares of NYSE INSW traded up $0.82 during trading hours on Monday, hitting $85.40. 454,696 shares of the company’s stock were exchanged, compared to its average volume of 595,545. International Seaways Inc. has a 1-year low of $35.60 and a 1-year high of $92.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.34 and a quick ratio of 7.28. The stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 7.78 and a beta of -0.09. The company’s 50-day moving average price is $76.55 and its 200-day moving average price is $63.22.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $279.34 million. During the same period in the previous year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 77.5% compared to the same quarter last year. On average, sell-side analysts expect that International Seaways Inc. will post 14.99 earnings per share for the current fiscal year.

International Seaways Announces Dividend

The firm also recently declared 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. The ex-dividend date is Friday, June 12th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. International Seaways’s dividend payout ratio is 4.37%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BTIG Research upped their price objective on International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Pareto Securities downgraded International Seaways from a “buy” rating to a “hold” rating in a research note on Monday. Benchmark reissued a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research note on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $83.50.

Hedge Funds Weigh In On International Seaways

A number of large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its holdings in International Seaways by 13.9% during the 1st quarter. Empowered Funds LLC now owns 268,163 shares of the transportation company’s stock worth $19,544,000 after purchasing an additional 32,634 shares in the last quarter. Energy Income Partners LLC increased its holdings in International Seaways by 3.4% during the 1st quarter. Energy Income Partners LLC now owns 82,321 shares of the transportation company’s stock worth $6,000,000 after purchasing an additional 2,672 shares in the last quarter. Quantinno Capital Management LP increased its holdings in International Seaways by 6.0% during the 1st quarter. Quantinno Capital Management LP now owns 21,564 shares of the transportation company’s stock worth $1,572,000 after purchasing an additional 1,220 shares in the last quarter. SummitTX Capital L.P. bought a new position in International Seaways during the 1st quarter worth about $4,742,000. Finally, Lazard Asset Management LLC bought a new position in shares of International Seaways in the 1st quarter valued at about $2,081,000. 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.