International Seaways (NYSE:INSW) Downgraded to Hold at StockNews.com

StockNews.com lowered shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Separately, Jefferies Financial Group reaffirmed a buy rating and issued a $66.00 price target on shares of International Seaways in a research note on Thursday, February 29th.

International Seaways Trading Up 0.6 %

INSW stock opened at $52.75 on Wednesday. The company’s 50-day simple moving average is $52.60 and its 200-day simple moving average is $49.27. The company has a quick ratio of 2.37, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. International Seaways has a 52-week low of $34.77 and a 52-week high of $55.59. The firm has a market cap of $2.58 billion, a P/E ratio of 4.69 and a beta of -0.05.

International Seaways (NYSE:INSW) last posted its earnings results on Thursday, February 29th. The transportation company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $239.36 million. As a group, equities analysts forecast that International Seaways will post 9.27 EPS for the current fiscal year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $1.20 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $4.80 dividend on an annualized basis and a yield of 9.10%. International Seaways’s payout ratio is 4.27%.

Insider Buying and Selling at International Seaways

In other International Seaways news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the sale, the chief executive officer now owns 136,260 shares in the company, valued at approximately $7,088,245.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other International Seaways news, CEO Lois K. Zabrocky sold 16,240 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $52.02, for a total value of $844,804.80. Following the completion of the sale, the chief executive officer now owns 136,260 shares in the company, valued at approximately $7,088,245.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $54.23, for a total transaction of $54,230.00. Following the completion of the sale, the chief financial officer now owns 75,927 shares of the company’s stock, valued at approximately $4,117,521.21. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,846 shares of company stock worth $3,073,978. Insiders own 2.00% of the company’s stock.

Institutional Trading of International Seaways

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank increased its holdings in shares of International Seaways by 0.4% during the 3rd quarter. Swiss National Bank now owns 75,200 shares of the transportation company’s stock worth $3,384,000 after buying an additional 300 shares during the last quarter. Point72 Asset Management L.P. increased its holdings in shares of International Seaways by 55.2% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,015 shares of the transportation company’s stock worth $39,000 after buying an additional 361 shares during the last quarter. WINTON GROUP Ltd increased its holdings in shares of International Seaways by 3.7% during the 1st quarter. WINTON GROUP Ltd now owns 10,652 shares of the transportation company’s stock worth $444,000 after buying an additional 379 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of International Seaways by 29.8% during the 4th quarter. Wells Fargo & Company MN now owns 1,672 shares of the transportation company’s stock worth $62,000 after buying an additional 384 shares during the last quarter. Finally, Toroso Investments LLC increased its holdings in shares of International Seaways by 5.2% during the 1st quarter. Toroso Investments LLC now owns 9,178 shares of the transportation company’s stock worth $383,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

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.