International Seaways (NYSE:INSW) CFO Sells $66,500.00 in Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $66.50, for a total transaction of $66,500.00. Following the sale, the chief financial officer owned 100,521 shares in the company, valued at $6,684,646.50. This represents a 0.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, February 17th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $63.29, for a total transaction of $63,290.00.
• On Thursday, January 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $55.68, for a total transaction of $55,680.00.

International Seaways Stock Down 1.4%

International Seaways stock traded down $0.96 during midday trading on Tuesday, hitting $67.67. 516,062 shares of the stock were exchanged, compared to its average volume of 617,425. International Seaways Inc. has a 1 year low of $27.20 and a 1 year high of $78.51. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.71 and a quick ratio of 3.71. The firm has a market cap of $3.34 billion, a P/E ratio of 10.86 and a beta of -0.23. The company has a 50 day moving average price of $63.05 and a two-hundred day moving average price of $53.84.

International Seaways (NYSE:INSW) last posted its quarterly earnings data on Thursday, February 26th. The transportation company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.70. The company had revenue of $267.88 million during the quarter, compared to analysts’ expectations of $245.29 million. International Seaways had a net margin of 36.67% and a return on equity of 13.92%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. On average, sell-side analysts predict that International Seaways Inc. will post 7.77 earnings per share for the current fiscal year.

International Seaways Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, March 20th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.7%. International Seaways’s dividend payout ratio is currently 7.70%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. First Horizon Corp increased its holdings in shares of International Seaways by 121.6% in the 4th quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after acquiring an additional 377 shares during the last quarter. Federated Hermes Inc. lifted its stake in International Seaways by 99.5% during the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares during the last quarter. Leonteq Securities AG bought a new position in International Seaways during the fourth quarter worth $44,000. Garton & Associates Financial Advisors LLC acquired a new position in International Seaways in the fourth quarter worth $46,000. Finally, Rockefeller Capital Management L.P. increased its stake in International Seaways by 583.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 963 shares of the transportation company’s stock valued at $47,000 after purchasing an additional 822 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on INSW shares. BTIG Research lifted their price objective on International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Benchmark reissued a “buy” rating on shares of International Seaways in a research report on Thursday, February 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, March 9th. Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 20th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, International Seaways currently has an average rating of “Buy” and a consensus price target of $68.00.

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.