54,323 Shares in International Seaways Inc. $INSW Acquired by Energy Income Partners LLC

Energy Income Partners LLC purchased a new position in International Seaways Inc. (NYSE:INSW) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 54,323 shares of the transportation company’s stock, valued at approximately $4,161,000.

Several other large investors also recently bought and sold shares of the company. First Horizon Corp raised its stake in shares of International Seaways by 121.6% during the fourth quarter. First Horizon Corp now owns 687 shares of the transportation company’s stock valued at $33,000 after purchasing an additional 377 shares during the period. Leonteq Securities AG purchased a new position in shares of International Seaways in the fourth quarter valued at $44,000. Garton & Associates Financial Advisors LLC acquired a new stake in International Seaways during the 4th quarter valued at $46,000. Rockefeller Capital Management L.P. grew its holdings in International Seaways by 583.0% during the 4th 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. Finally, Advisory Services Network LLC purchased a new stake in International Seaways during the 3rd quarter worth $53,000. Institutional investors and hedge funds own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of International Seaways from a “hold” rating to a “strong-buy” rating in a report on Friday, July 24th. Pareto Securities lowered International Seaways from a “buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a research report on Friday, August 7th. BTIG Research boosted their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group increased their price target on International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $88.00.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $98.44, for a total value of $196,880.00. Following the completion of the sale, the chief executive officer directly owned 173,745 shares in the company, valued at approximately $17,103,457.80. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.68, for a total value of $81,680.00. Following the sale, the chief financial officer directly owned 101,984 shares in the company, valued at approximately $8,330,053.12. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 5,000 shares of company stock worth $441,240. 1.70% of the stock is currently owned by company insiders.

International Seaways Price Performance

INSW opened at $99.02 on Wednesday. The company has a 50-day moving average of $87.98 and a 200-day moving average of $79.13. The company has a market capitalization of $4.90 billion, a P/E ratio of 6.33 and a beta of -0.13. International Seaways Inc. has a 1-year low of $41.42 and a 1-year high of $99.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 5.76 and a current ratio of 5.94.

International Seaways (NYSE:INSW) last issued 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. The business had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. International Seaways had a net margin of 61.98% and a return on equity of 31.75%. The company’s quarterly revenue was up 138.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.02 earnings per share. Equities analysts expect that International Seaways Inc. will post 15.89 EPS for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a dividend of $5.05 per share. The ex-dividend date is Thursday, September 10th. This is an increase from International Seaways’s previous quarterly dividend of $0.12. This represents a $20.20 annualized dividend and a yield of 20.4%. International Seaways’s payout ratio is currently 3.07%.

International Seaways Company Profile

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.