International Seaways (NYSE:INSW) Price Target Raised to $64.00 at Stifel Nicolaus

International Seaways (NYSE:INSW) had its price target increased by Stifel Nicolaus from $63.00 to $64.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a buy rating on the transportation company’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group reiterated a buy rating and set a $66.00 price target on shares of International Seaways in a research report on Thursday, February 29th. StockNews.com cut shares of International Seaways from a buy rating to a hold rating in a research report on Wednesday, April 17th.

International Seaways Price Performance

Shares of INSW stock opened at $53.60 on Friday. International Seaways has a 12 month low of $34.77 and a 12 month high of $55.59. The company has a market capitalization of $2.62 billion, a PE ratio of 4.76 and a beta of -0.05. The firm’s 50-day moving average is $52.64 and its two-hundred day moving average is $49.46. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.37.

International Seaways (NYSE:INSW) last announced its quarterly earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.10. International Seaways had a net margin of 51.92% and a return on equity of 32.03%. The business had revenue of $250.73 million during the quarter, compared to analysts’ expectations of $239.36 million. Analysts predict that International Seaways will post 9.42 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 8.96%. The ex-dividend date was Wednesday, March 13th. International Seaways’s payout ratio is currently 4.27%.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the sale, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $54.23, for a total value of $54,230.00. Following the sale, the chief financial officer now directly owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 13,760 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $52.87, for a total transaction of $727,491.20. Following the completion of the sale, the chief executive officer now directly owns 148,942 shares in the company, valued at $7,874,563.54. The disclosure for this sale can be found here. Insiders have sold a total of 58,846 shares of company stock valued at $3,073,978 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

Large investors have recently modified their holdings of the company. U S Global Investors Inc. purchased a new stake in shares of International Seaways in the 3rd quarter valued at approximately $78,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of International Seaways in the 3rd quarter valued at approximately $113,000. Bfsg LLC purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $167,000. Cim LLC purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $192,000. Finally, Peterson Wealth Services purchased a new stake in shares of International Seaways in the 4th quarter valued at approximately $203,000. 67.29% of the stock is owned by hedge funds and other institutional investors.

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.