International Seaways (NYSE:INSW) Price Target Raised to $130.00

International Seaways (NYSE:INSW) had its price objective lifted by BTIG Research from $100.00 to $130.00 in a research report released on Friday morning, Marketbeat Ratings reports. They currently have a buy rating on the transportation company’s stock.

A number of other brokerages also recently commented on INSW. Weiss Ratings reiterated a “buy (b-)” rating on shares of International Seaways in a research note on Friday, August 7th. Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 24th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $107.00 price target on shares of International Seaways in a report on Tuesday, September 1st. Finally, Jefferies Financial Group upped their price objective on International Seaways from $100.00 to $108.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.25.

International Seaways Stock Up 0.1%

Shares of NYSE:INSW opened at $111.26 on Friday. The firm’s 50 day moving average price is $96.84 and its 200 day moving average price is $85.25. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 7.11, a price-to-earnings-growth ratio of 0.29 and a beta of -0.13. International Seaways has a fifty-two week low of $42.26 and a fifty-two week high of $113.14. The company has a quick ratio of 5.76, a current ratio of 5.94 and a debt-to-equity ratio of 0.27.

International Seaways (NYSE:INSW) last posted its quarterly earnings results on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, topping the consensus estimate of $5.55 by $0.36. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company had revenue of $467.29 million during the quarter, compared to analysts’ expectations of $406.38 million. During the same quarter in the previous year, the business posted $1.02 EPS. The firm’s revenue was up 138.9% on a year-over-year basis. As a group, equities research analysts predict that International Seaways will post 16.09 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $5.05 dividend. This represents a $20.20 annualized dividend and a dividend yield of 18.2%. The ex-dividend date is Thursday, September 10th. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is currently 129.16%.

Insider Activity at International Seaways

In related news, CEO Lois Zabrocky sold 2,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $108.01, for a total value of $216,020.00. Following the transaction, the chief executive officer directly owned 171,745 shares of the company’s stock, valued at $18,550,177.45. This trade represents a 1.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On International Seaways

Several large investors have recently bought and sold shares of INSW. Tidal Investments LLC increased its position in shares of International Seaways by 59.3% during the second quarter. Tidal Investments LLC now owns 51,034 shares of the transportation company’s stock worth $3,909,000 after purchasing an additional 18,996 shares in the last quarter. Arlington Capital Management Inc. purchased a new position in International Seaways during the 2nd quarter worth approximately $219,000. Engineers Gate Manager LP grew its stake in International Seaways by 43.8% during the 2nd quarter. Engineers Gate Manager LP now owns 13,375 shares of the transportation company’s stock worth $1,024,000 after buying an additional 4,075 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in International Seaways during the second quarter worth approximately $92,000. Finally, NewEdge Advisors LLC lifted its stake in International Seaways by 14.2% in the second quarter. NewEdge Advisors LLC now owns 11,164 shares of the transportation company’s stock valued at $855,000 after buying an additional 1,390 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 is a maritime transportation company that owns and operates oceangoing vessels used to transport crude oil, refined petroleum products and other liquid bulk cargoes. Its fleet includes crude oil tankers and product carriers serving energy companies, commodity traders and other customers in international shipping markets.

The company’s vessels operate on routes connecting major oil-producing, refining and consuming regions around the world. International Seaways generates revenue through a combination of time-charter arrangements, voyage charters and other commercial agreements, allowing customers to use its ships for the global movement of energy products.

International Seaways became an independent public company in 2016 through a separation from Overseas Shipholding Group.