Stocks of International Seaways Inc. (NYSE:INSW) traded higher last session on Wall Street, up 5.76% to $41.66.
INSW stock price is now 13.36% away from the 50-day moving average and 10.14% away from the 200-day moving average. The market capitalization of the company currently stands at $1.94B.
With the price target of $40, Deutsche Bank recently initiated with Buy rating for International Seaways Inc. (NYSE: INSW).
In other news, Zabrocky Lois K, President & CEO sold 1,000 shares of the company’s stock on Jul 03. The stock was sold for $38,350 at an average price of $38.35. Upon completion of the transaction, the President & CEO now directly owns 144,244 shares in the company, valued at $6.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 07, President & CEO Zabrocky Lois K sold 1,000 shares of the business’s stock. A total of $36,740 was realized by selling the stock at an average price of $36.74. This leaves the insider owning 145,244 shares of the company worth $6.05 million. Insiders disposed of 856,094 shares of company stock worth roughly $35.66 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in INSW stock. A new stake in International Seaways Inc. shares was purchased by HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND during the first quarter worth $14,281,000. FRONTIER CAPITAL MANAGEMENT CO LLC invested $13,918,000 in shares of INSW during the first quarter. In the first quarter, WEXFORD CAPITAL LP acquired a new stake in International Seaways Inc. valued at approximately $8,884,000. EA SERIES TRUST acquired a new stake in INSW for approximately $6,578,000. QUANTEDGE CAPITAL PTE LTD purchased a new stake in INSW valued at around $4,799,000 in the second quarter. In total, there are 292 active investors with 66.20% ownership of the company’s stock.
Friday’s opening bell rang with an opening price of $39.30 for International Seaways Inc. (NYSE: INSW). During the past 12 months, International Seaways Inc. has had a low of $20.66 and a high of $49.02. As of last week, the company has a debt-to-equity ratio of 0.61, a current ratio of 2.50, and a quick ratio of 2.50. The fifty day moving average price for INSW is $37.41 and a two-hundred day moving average price translates $40.31 for the stock.
The latest earnings results from International Seaways Inc. (NYSE: INSW) was released for Mar, 2023. According to the Oil & Gas Midstream Company, earnings per share came in at $3.27, beating analysts’ expectations of $2.84 by 0.43. This compares to -$0.26 EPS in the same period last year. The net profit margin was 54.60% and return on equity was 40.90% for INSW. The company reported revenue of $287.13 million for the quarter, compared to $101.48 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 182.94 percent. For the current quarter, analysts expect INSW to generate $253.36M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/28/2023. Investors who held shares on 06/14/2023 were paid a $1.50 dividend. On an annualized basis, this represents a $0.48 dividend and a 1.15% percent yield. There was an ex-dividend date of 06/13/2023 for this dividend. In terms of dividend payout ratio, INSW is presently at 4.10%.
International Seaways Inc.(INSW) 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. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities. The company was formerly known as OSG International, Inc. and changed its name to International Seaways, Inc. in October 2016. International Seaways, Inc. was incorporated in 1999 and is headquartered in New York, New York.
