International Seaways (NYSE:INSW) Price Target Raised to $64.00 at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price objective increased by Stifel Nicolaus from $63.00 to $64.00 in a research note published on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the transportation company’s stock.

A number of other research firms have also recently issued reports on INSW. StockNews.com cut shares of International Seaways from a buy rating to a hold rating in a research note on Wednesday. Jefferies Financial Group restated a buy rating and issued a $66.00 price objective on shares of International Seaways in a report on Thursday, February 29th.

International Seaways Price Performance

Shares of NYSE INSW opened at $53.03 on Friday. The stock has a market capitalization of $2.59 billion, a price-to-earnings ratio of 4.71 and a beta of -0.05. International Seaways has a 12 month low of $34.77 and a 12 month high of $55.59. The firm’s 50 day simple moving average is $52.64 and its 200-day simple moving average is $49.36. 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 issued its quarterly earnings data on Thursday, February 29th. The transportation company reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.10. The business had revenue of $250.73 million for the quarter, compared to analysts’ expectations of $239.36 million. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. Analysts expect that International Seaways will post 9.27 EPS for the current year.

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 9.05%. International Seaways’s payout ratio is currently 4.27%.

Insider Buying and Selling at International Seaways

In other news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Lois K. Zabrocky sold 13,760 shares of International Seaways stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $52.87, for a total transaction of $727,491.20. Following the transaction, the chief executive officer now owns 148,942 shares in the company, valued at approximately $7,874,563.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexandra Kate Blankenship sold 6,000 shares of International Seaways stock in a transaction on Friday, March 8th. The stock was sold at an average price of $53.09, for a total value of $318,540.00. Following the transaction, the director now owns 19,098 shares in the company, valued at approximately $1,013,912.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,846 shares of company stock worth $3,073,978. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

Several institutional investors and hedge funds have recently bought and sold shares of the stock. DMC Group LLC purchased a new stake in International Seaways in the 1st quarter valued at about $224,000. Baker Ellis Asset Management LLC purchased a new stake in International Seaways in the 1st quarter valued at about $213,000. Los Angeles Capital Management LLC purchased a new stake in International Seaways in the 1st quarter valued at about $203,000. Vanguard Group Inc. grew its position in International Seaways by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 3,700,058 shares of the transportation company’s stock valued at $168,279,000 after acquiring an additional 119,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in International Seaways by 57.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 403,848 shares of the transportation company’s stock valued at $18,367,000 after acquiring an additional 147,740 shares in the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

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.