International Seaways (NYSE:INSW) Reaches New 12-Month High – Still a Buy?

International Seaways Inc. (NYSE:INSW) shares reached a new 52-week high on Thursday . The company traded as high as $54.45 and last traded at $54.57, with a volume of 96456 shares changing hands. The stock had previously closed at $53.54.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. BTIG Research lowered their price objective on shares of International Seaways from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Pareto Securities cut International Seaways from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of International Seaways in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, International Seaways presently has a consensus rating of “Moderate Buy” and an average price target of $52.67.

International Seaways Stock Up 1.7%

The stock’s 50-day moving average price is $47.76 and its 200-day moving average price is $42.40. The stock has a market cap of $2.69 billion, a price-to-earnings ratio of 11.32 and a beta of -0.02. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.14.

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

International Seaways Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.9%. International Seaways’s payout ratio is currently 10.93%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 2,000 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.12, for a total value of $88,240.00. Following the transaction, the chief executive officer owned 186,771 shares in the company, valued at approximately $8,240,336.52. This represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Derek G. Solon sold 3,500 shares of International Seaways stock in a transaction on Monday, November 10th. The stock was sold at an average price of $53.71, for a total transaction of $187,985.00. Following the transaction, the senior vice president directly owned 49,393 shares in the company, valued at $2,652,898.03. This represents a 6.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 12,500 shares of company stock valued at $594,505. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On International Seaways

A number of hedge funds have recently made changes to their positions in INSW. Federated Hermes Inc. lifted its holdings in International Seaways by 99.5% during the 3rd quarter. Federated Hermes Inc. now owns 758 shares of the transportation company’s stock worth $35,000 after purchasing an additional 378 shares in the last quarter. Picton Mahoney Asset Management purchased a new stake in shares of International Seaways in the first quarter worth about $55,000. EverSource Wealth Advisors LLC boosted its position in shares of International Seaways by 601.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,508 shares of the transportation company’s stock valued at $55,000 after acquiring an additional 1,293 shares during the period. PNC Financial Services Group Inc. grew its stake in International Seaways by 550.7% during the first quarter. PNC Financial Services Group Inc. now owns 1,822 shares of the transportation company’s stock valued at $60,000 after acquiring an additional 1,542 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in International Seaways by 18.3% during the 2nd quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after acquiring an additional 289 shares during the period. 67.29% of the stock is currently owned by institutional investors.

International Seaways Company Profile

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.