International Seaways (NYSE:INSW) Stock Rating Upgraded by Fearnley Fonds

Fearnley Fonds upgraded shares of International Seaways (NYSE:INSW) to a strong-buy rating in a research report released on Friday, Zacks.com reports.

A number of other research firms also recently commented on INSW. Stifel Nicolaus boosted their target price on International Seaways from $68.00 to $72.00 and gave the stock a buy rating in a research report on Wednesday, July 24th. Jefferies Financial Group reiterated a buy rating and issued a $66.00 price objective on shares of International Seaways in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of International Seaways from a buy rating to a hold rating in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Seaways has a consensus rating of Buy and a consensus target price of $68.00.

International Seaways Price Performance

Shares of NYSE INSW opened at $51.56 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.87 and a current ratio of 3.89. International Seaways has a one year low of $40.68 and a one year high of $65.94. The firm has a market capitalization of $2.55 billion, a P/E ratio of 4.82 and a beta of -0.07. The company’s fifty day moving average is $51.22 and its two-hundred day moving average is $55.31.

International Seaways (NYSE:INSW) last issued its earnings results on Wednesday, August 7th. The transportation company reported $2.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.13). The company had revenue of $257.40 million during the quarter, compared to analysts’ expectations of $256.13 million. International Seaways had a net margin of 50.70% and a return on equity of 26.55%. The company’s quarterly revenue was down 11.9% on a year-over-year basis. During the same period last year, the business posted $3.12 earnings per share. Analysts forecast that International Seaways will post 9.51 EPS for the current fiscal year.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 11th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, September 11th. International Seaways’s dividend payout ratio (DPR) is 4.49%.

Insider Activity at International Seaways

In other International Seaways news, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $55.97, for a total value of $55,970.00. Following the sale, the chief financial officer now directly owns 38,849 shares of the company’s stock, valued at approximately $2,174,378.53. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Alexandra Kate Blankenship sold 5,000 shares of International Seaways stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.17, for a total value of $245,850.00. Following the transaction, the director now directly owns 16,109 shares of the company’s stock, valued at approximately $792,079.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $55.97, for a total transaction of $55,970.00. Following the transaction, the chief financial officer now directly owns 38,849 shares in the company, valued at $2,174,378.53. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,000 shares of company stock worth $602,160. 1.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Seaways

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of International Seaways by 7.7% during the first quarter. Vanguard Group Inc. now owns 3,986,353 shares of the transportation company’s stock worth $212,074,000 after purchasing an additional 286,295 shares in the last quarter. American Century Companies Inc. lifted its position in International Seaways by 25.7% during the 2nd quarter. American Century Companies Inc. now owns 1,235,135 shares of the transportation company’s stock worth $73,034,000 after acquiring an additional 252,492 shares in the last quarter. Renaissance Technologies LLC grew its position in International Seaways by 5.3% in the second quarter. Renaissance Technologies LLC now owns 882,531 shares of the transportation company’s stock valued at $52,184,000 after acquiring an additional 44,200 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of International Seaways by 4.1% during the second quarter. Victory Capital Management Inc. now owns 853,745 shares of the transportation company’s stock valued at $50,482,000 after purchasing an additional 33,712 shares during the period. Finally, Frontier Capital Management Co. LLC raised its stake in shares of International Seaways by 20.8% during the fourth quarter. Frontier Capital Management Co. LLC now owns 810,675 shares of the transportation company’s stock valued at $36,869,000 after purchasing an additional 139,569 shares during the period. 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.