International Seaways (NYSE:INSW) CFO Jeffrey Pribor Sells 1,000 Shares

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $66.50, for a total value of $66,500.00. Following the transaction, the chief financial officer owned 100,521 shares in the company, valued at $6,684,646.50. This trade represents a 0.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 value of $55,680.00.

International Seaways Trading Down 1.4%

Shares of INSW opened at $67.67 on Wednesday. The firm has a fifty day simple moving average of $63.44 and a two-hundred day simple moving average of $54.00. International Seaways Inc. has a twelve month low of $27.20 and a twelve month high of $78.51. The stock has a market capitalization of $3.34 billion, a P/E ratio of 10.86 and a beta of -0.23. The company has a quick ratio of 3.71, a current ratio of 3.71 and a debt-to-equity ratio of 0.27.

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

International Seaways Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, March 20th will be issued a $0.12 dividend. The ex-dividend date 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 7.70%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INSW shares. BTIG Research lifted their price target on shares of International Seaways from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Benchmark restated a “buy” rating on shares of International Seaways in a research note on Thursday, February 26th. Zacks Research upgraded International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a report on Monday, March 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, International Seaways has an average rating of “Buy” and an average target price of $68.00.

Institutional Investors Weigh In On International Seaways

Large investors have recently modified their holdings of the business. First Horizon Corp raised its stake in shares of International Seaways by 121.6% in the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock worth $33,000 after purchasing an additional 377 shares during the last quarter. Federated Hermes Inc. raised its position in shares of International Seaways by 99.5% in the third quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after acquiring an additional 378 shares during the period. Leonteq Securities AG acquired a new position in International Seaways in the 4th quarter worth about $44,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of International Seaways during the 4th quarter valued at approximately $46,000. Finally, Rockefeller Capital Management L.P. lifted its holdings 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 in the last quarter. 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.