International Seaways - INSW Stock Forecast, Price & News

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, 2021, the company owned and operated a fleet of 83 vessels, which include 12 chartered-in vessels, as well as had ownership interests in two floating storage and offloading service vessels. 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSW. StockNews.com raised shares of International Seaways to a "sell" rating in a report on Friday, April 29th. Clarkson Capital reiterated a "buy" rating on shares of International Seaways in a report on Tuesday, June 14th. BTIG Research upgraded shares of International Seaways from a "neutral" rating to a "buy" rating and set a $30.00 target price on the stock in a report on Wednesday, July 27th. Stifel Nicolaus lifted their target price on shares of International Seaways from $27.00 to $31.00 in a report on Tuesday, July 19th. Finally, Jefferies Financial Group boosted their price objective on shares of International Seaways from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, International Seaways has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

International Seaways Price Performance

Shares of INSW traded up $1.46 during mid-day trading on Thursday, hitting $28.42. 12,541 shares of the company's stock were exchanged, compared to its average volume of 442,924. The firm has a fifty day moving average of $22.29 and a two-hundred day moving average of $20.14. International Seaways has a twelve month low of $13.05 and a twelve month high of $27.94. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.00 and a current ratio of 1.00.

International Seaways Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, September 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Tuesday, September 13th. International Seaways's dividend payout ratio (DPR) is presently -48.00%.

Insider Transactions at International Seaways

In other International Seaways news, CAO James D. Small III sold 7,000 shares of the firm's stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $22.39, for a total value of $156,730.00. Following the completion of the sale, the chief accounting officer now owns 40,222 shares in the company, valued at approximately $900,570.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other International Seaways news, CAO James D. Small III sold 7,000 shares of International Seaways stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $22.39, for a total value of $156,730.00. Following the transaction, the chief accounting officer now owns 40,222 shares of the company's stock, valued at $900,570.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO James D. Small III sold 19,000 shares of International Seaways stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $23.38, for a total transaction of $444,220.00. Following the completion of the sale, the chief accounting officer now owns 47,222 shares in the company, valued at $1,104,050.36. The disclosure for this sale can be found here. In the last three months, insiders sold 28,000 shares of company stock valued at $645,360. Company insiders own 2.90% of the company's stock.