Jeffrey Pribor Sells 1,000 Shares of International Seaways (NYSE:INSW) Stock

International Seaways Inc. (NYSE:INSW) CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the transaction, the chief financial officer owned 101,984 shares of the company’s stock, valued at approximately $8,330,053.12. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Jeffrey Pribor also recently made the following trade(s):

• On Friday, May 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The shares were sold at an average price of $83.72, for a total transaction of $83,720.00.
• On Wednesday, April 15th, Jeffrey Pribor sold 1,000 shares of International Seaways stock. The stock was sold at an average price of $74.50, for a total transaction of $74,500.00.

International Seaways Price Performance

Shares of NYSE INSW opened at $84.37 on Friday. International Seaways Inc. has a twelve month low of $36.03 and a twelve month high of $92.66. The firm has a fifty day simple moving average of $81.23 and a 200 day simple moving average of $67.89. The company has a market capitalization of $4.18 billion, a PE ratio of 7.68 and a beta of -0.12. The company has a quick ratio of 7.28, a current ratio of 7.34 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last issued 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. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The business had revenue of $325.48 million for the quarter, compared to analysts’ expectations of $279.34 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. On average, sell-side analysts forecast that International Seaways Inc. will post 14.99 EPS for the current 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. The ex-dividend date is Friday, June 12th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. International Seaways’s dividend payout ratio is presently 4.37%.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its holdings in International Seaways by 11.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after acquiring an additional 118 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of International Seaways by 2.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after purchasing an additional 200 shares during the period. ProShare Advisors LLC raised its position in shares of International Seaways by 3.2% during the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after purchasing an additional 241 shares during the period. Guggenheim Capital LLC lifted its holdings in shares of International Seaways by 1.4% in the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after purchasing an additional 275 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in International Seaways by 16.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,074 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 292 shares during the period. 67.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded International Seaways from a “buy” rating to a “strong-buy” rating in a report on Monday, April 13th. Zacks Research raised shares of International Seaways from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 27th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of International Seaways from $63.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, March 9th. Jefferies Financial Group reiterated a “buy” rating and set a $100.00 target price on shares of International Seaways in a research report on Friday, May 8th. Finally, BTIG Research increased their target price on shares of International Seaways from $80.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $83.50.

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.