International Seaways, Inc. (NYSE:INSW) Short Interest Update

International Seaways, Inc. (NYSE:INSWGet Free Report) saw a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 3,190,000 shares, an increase of 139.8% from the December 15th total of 1,330,000 shares. Based on an average daily volume of 835,300 shares, the days-to-cover ratio is currently 3.8 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on INSW. Stifel Nicolaus cut shares of International Seaways from a “buy” rating to a “hold” rating and dropped their price objective for the company from $69.00 to $56.00 in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a report on Friday, September 27th. Finally, Jefferies Financial Group cut their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, International Seaways presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.67.

View Our Latest Report on International Seaways

International Seaways Trading Down 0.5 %

NYSE:INSW traded down $0.20 on Tuesday, reaching $41.19. The company’s stock had a trading volume of 898,437 shares, compared to its average volume of 1,068,417. International Seaways has a 12-month low of $32.11 and a 12-month high of $65.94. The stock has a 50 day moving average price of $38.43 and a 200 day moving average price of $47.05. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.98 and a beta of -0.10. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways (NYSE:INSWGet Free Report) last issued its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.15. The firm had revenue of $225.20 million for the quarter, compared to analyst estimates of $208.75 million. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. International Seaways’s revenue was down 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.99 EPS. On average, equities analysts anticipate that International Seaways will post 7.92 EPS for the current fiscal year.

International Seaways Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 12.82%. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling at International Seaways

In related news, SVP Derek G. Solon sold 1,200 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $38.91, for a total value of $46,692.00. Following the transaction, the senior vice president now directly owns 45,687 shares of the company’s stock, valued at approximately $1,777,681.17. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $43.05, for a total value of $43,050.00. Following the transaction, the senior vice president now directly owns 51,803 shares of the company’s stock, valued at $2,230,119.15. The trade was a 1.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,200 shares of company stock valued at $248,012. 1.90% of the stock is owned by insiders.

Institutional Trading of International Seaways

Several institutional investors have recently added to or reduced their stakes in INSW. EverSource Wealth Advisors LLC boosted its stake in shares of International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 305 shares during the period. Franklin Resources Inc. lifted its holdings in International Seaways by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company’s stock worth $2,428,000 after buying an additional 379 shares in the last quarter. KBC Group NV boosted its position in International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock valued at $56,000 after buying an additional 428 shares during the period. Cynosure Group LLC grew its stake in shares of International Seaways by 6.6% in the third quarter. Cynosure Group LLC now owns 7,171 shares of the transportation company’s stock worth $370,000 after acquiring an additional 447 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of International Seaways by 2.5% in the second quarter. Ensign Peak Advisors Inc now owns 22,702 shares of the transportation company’s stock worth $1,342,000 after acquiring an additional 550 shares in the last quarter. Institutional investors and hedge funds own 67.29% of the company’s stock.

About International Seaways

(Get Free Report)

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.

Further Reading

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