International Seaways (NYSE:INSW) Upgraded to Buy by StockNews.com

StockNews.com upgraded shares of International Seaways (NYSE:INSW) from a hold rating to a buy rating in a research report released on Saturday morning.

Separately, Jefferies Financial Group reaffirmed a buy rating and set a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Stock Down 2.8 %

NYSE:INSW opened at $51.36 on Friday. The firm has a market capitalization of $2.51 billion, a P/E ratio of 4.57 and a beta of -0.05. International Seaways has a 1-year low of $34.77 and a 1-year high of $55.59. The company’s fifty day moving average price is $52.53 and its 200-day moving average price is $48.96. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, beating the consensus estimate of $2.08 by $0.10. The company had revenue of $250.73 million for the quarter, compared to analyst estimates of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. As a group, equities research analysts anticipate that International Seaways will post 9.36 EPS for the current year.

International Seaways Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 9.35%. The ex-dividend date was Wednesday, March 13th. International Seaways’s dividend payout ratio (DPR) is presently 4.27%.

Insiders Place Their Bets

In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.22, for a total transaction of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares in the company, valued at $1,334,588.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other International Seaways news, Director Douglas D. Wheat sold 3,846 shares of International Seaways stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $51.22, for a total transaction of $196,992.12. Following the completion of the sale, the director now directly owns 26,056 shares in the company, valued at $1,334,588.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the sale, the chief financial officer now owns 75,927 shares of the company’s stock, valued at $4,117,521.21. The disclosure for this sale can be found here. Insiders have sold 58,846 shares of company stock valued at $3,073,978 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Swiss National Bank grew its holdings in shares of International Seaways by 0.4% in the third quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock valued at $3,384,000 after purchasing an additional 300 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of International Seaways by 55.2% in the second quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 361 shares in the last quarter. WINTON GROUP Ltd grew its holdings in International Seaways by 3.7% during the 1st quarter. WINTON GROUP Ltd now owns 10,652 shares of the transportation company’s stock worth $444,000 after acquiring an additional 379 shares in the last quarter. Wells Fargo & Company MN grew its holdings in International Seaways by 29.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock worth $62,000 after acquiring an additional 384 shares in the last quarter. Finally, Toroso Investments LLC grew its holdings in International Seaways by 5.2% during the 1st quarter. Toroso Investments LLC now owns 9,178 shares of the transportation company’s stock worth $383,000 after acquiring an additional 455 shares in the last quarter. 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.