International Seaways (NYSE:INSW) CEO Lois Zabrocky Sells 2,000 Shares of Stock

International Seaways Inc. (NYSE:INSW) CEO Lois Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $81.34, for a total transaction of $162,680.00. Following the transaction, the chief executive officer directly owned 177,745 shares of the company’s stock, valued at approximately $14,457,778.30. This represents a 1.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

International Seaways Price Performance

Shares of NYSE:INSW opened at $81.51 on Thursday. The company has a 50 day moving average of $81.02 and a 200 day moving average of $67.67. The stock has a market cap of $4.04 billion, a P/E ratio of 7.42 and a beta of -0.12. The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. International Seaways Inc. has a 12 month low of $36.03 and a 12 month high of $92.66.

International Seaways (NYSE:INSW) last released its quarterly earnings results on Thursday, May 7th. The transportation company reported $3.90 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. The firm had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business’s revenue for the quarter was up 77.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.80 EPS. As a group, sell-side analysts forecast that International Seaways Inc. will post 14.99 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, June 12th. International Seaways’s payout ratio is presently 4.37%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in International Seaways by 1.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 638,791 shares of the transportation company’s stock valued at $31,013,000 after buying an additional 12,188 shares during the period. Resolute Capital LLC purchased a new position in International Seaways during the 4th quarter valued at about $1,273,000. SG Americas Securities LLC lifted its position in International Seaways by 123.4% during the 4th quarter. SG Americas Securities LLC now owns 34,276 shares of the transportation company’s stock valued at $1,664,000 after acquiring an additional 18,935 shares during the period. TrueMark Investments LLC purchased a new position in International Seaways during the 4th quarter valued at about $1,404,000. Finally, Assenagon Asset Management S.A. purchased a new position in International Seaways during the 4th quarter valued at about $910,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

Analyst Ratings Changes

INSW has been the subject of several analyst reports. BTIG Research upped their price target on shares of International Seaways from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Pareto Securities cut International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Deutsche Bank Aktiengesellschaft increased their price objective on International Seaways from $63.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, March 9th. Finally, Wall Street Zen raised International Seaways from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $83.50.

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.