International Seaways (NYSE:INSW) Stock Price Up 7.5% – Here’s Why

Shares of International Seaways Inc. (NYSE:INSW) traded up 7.5% on Wednesday . The company traded as high as $51.83 and last traded at $52.1180. 187,630 shares changed hands during trading, a decline of 63% from the average session volume of 506,512 shares. The stock had previously closed at $48.46.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Pareto Securities downgraded shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Wall Street Zen downgraded shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $52.67.

International Seaways Stock Up 0.7%

The firm has a 50 day moving average price of $50.94 and a 200-day moving average price of $46.13. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of 12.41 and a beta of -0.18. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.75.

International Seaways (NYSE:INSW) last announced its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. The firm had revenue of $84.82 million for the quarter. International Seaways had a return on equity of 10.13% and a net margin of 28.26%. As a group, equities analysts predict that International Seaways Inc. will post 7.77 EPS for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 23rd. Shareholders of record on Tuesday, December 9th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a yield of 0.9%. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

Insider Buying and Selling at International Seaways

In other news, CAO James D. Small III sold 20,000 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $53.60, for a total value of $1,072,000.00. Following the transaction, the chief accounting officer owned 49,292 shares of the company’s stock, valued at $2,642,051.20. This represents a 28.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $48.56, for a total value of $97,120.00. Following the completion of the sale, the chief executive officer owned 182,421 shares of the company’s stock, valued at $8,858,363.76. This represents a 1.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 32,500 shares of company stock worth $1,698,825. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in International Seaways by 4,255.3% in the 3rd quarter. Pacer Advisors Inc. now owns 197,380 shares of the transportation company’s stock valued at $9,095,000 after acquiring an additional 192,848 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in shares of International Seaways during the 2nd quarter worth approximately $273,000. Creative Planning raised its holdings in shares of International Seaways by 270.9% in the second quarter. Creative Planning now owns 30,981 shares of the transportation company’s stock valued at $1,130,000 after purchasing an additional 22,628 shares during the last quarter. Marex Group plc bought a new stake in shares of International Seaways in the second quarter worth $4,276,000. Finally, Denali Advisors LLC boosted its holdings in International Seaways by 61.9% during the second quarter. Denali Advisors LLC now owns 25,100 shares of the transportation company’s stock worth $916,000 after purchasing an additional 9,600 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.