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 company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $53.82, for a total value of $107,640.00. Following the completion of the transaction, the chief executive officer owned 184,421 shares of the company’s stock, valued at $9,925,538.22. The trade was a 1.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

International Seaways Stock Performance

International Seaways stock traded up $0.98 on Thursday, hitting $54.74. The company’s stock had a trading volume of 58,542 shares, compared to its average volume of 687,821. The company has a fifty day moving average price of $48.47 and a 200-day moving average price of $43.08. The firm has a market cap of $2.70 billion, a P/E ratio of 11.40 and a beta of -0.02. International Seaways Inc. has a one year low of $27.20 and a one year high of $55.18. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.14.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Wednesday, November 23rd. The transportation company reported ($0.63) earnings per share for the quarter. International Seaways had a net margin of 29.88% and a return on equity of 11.35%. The company had revenue of $84.82 million for the quarter. On average, equities analysts anticipate that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, December 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.9%. International Seaways’s payout ratio is 10.93%.

Institutional Investors Weigh In On International Seaways

Institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its holdings in International Seaways by 1,452.6% during the first quarter. Envestnet Asset Management Inc. now owns 145,444 shares of the transportation company’s stock worth $4,829,000 after purchasing an additional 136,076 shares during the last quarter. Arizona State Retirement System boosted its position in International Seaways by 3.9% during the first quarter. Arizona State Retirement System now owns 11,993 shares of the transportation company’s stock valued at $398,000 after purchasing an additional 455 shares during the last quarter. CWM LLC grew its stake in International Seaways by 213.1% in the first quarter. CWM LLC now owns 5,344 shares of the transportation company’s stock valued at $177,000 after purchasing an additional 3,637 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of International Seaways by 51.4% during the 1st quarter. Victory Capital Management Inc. now owns 294,357 shares of the transportation company’s stock worth $9,773,000 after purchasing an additional 99,931 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in shares of International Seaways in the 1st quarter valued at approximately $273,000. Institutional investors own 67.29% of the company’s stock.

Wall Street Analyst Weigh In

INSW has been the topic of several research analyst reports. Pareto Securities cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. BTIG Research decreased their target price on International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of International Seaways in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.67.

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.