International Seaways, Inc. (NYSE:INSW) Short Interest Up 8.8% in November

International Seaways, Inc. (NYSE:INSW - Get Free Report) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,110,000 shares, an increase of 8.8% from the November 15th total of 1,020,000 shares. Based on an average daily volume of 636,800 shares, the days-to-cover ratio is presently 1.7 days.

Analysts Set New Price Targets

INSW has been the subject of several research analyst reports. Jefferies Financial Group decreased 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. Stifel Nicolaus lowered International Seaways from a "buy" rating to a "hold" rating and cut their price objective for the company from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds raised International Seaways to a "strong-buy" rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $60.67.

International Seaways Price Performance

International Seaways stock traded down $0.64 during trading on Tuesday, reaching $33.31. The company had a trading volume of 759,425 shares, compared to its average volume of 588,045. The firm has a market capitalization of $1.64 billion, a PE ratio of 3.22 and a beta of -0.10. The firm's 50-day simple moving average is $43.02 and its 200 day simple moving average is $50.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.60 and a current ratio of 3.60. International Seaways has a 1-year low of $32.73 and a 1-year high of $65.94.

International Seaways (NYSE:INSW - Get Free Report) last announced its earnings results on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, beating analysts' consensus estimates of $1.42 by $0.15. The business had revenue of $225.20 million during the quarter, compared to analysts' expectations of $208.75 million. International Seaways had a return on equity of 24.65% and a net margin of 50.91%. The business's revenue was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 earnings per share. As a group, equities research analysts anticipate that International Seaways will post 7.92 earnings per share for the current fiscal year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.32 dividend. The ex-dividend date is Friday, December 13th. This represents a $5.28 dividend on an annualized basis and a yield of 15.85%. This is a positive change 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

In other news, SVP William F. Nugent sold 1,000 shares of the firm's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.24, for a total value of $51,240.00. Following the completion of the sale, the senior vice president now owns 52,803 shares of the company's stock, valued at $2,705,625.72. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lois K. Zabrocky sold 2,000 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $49.22, for a total value of $98,440.00. Following the transaction, the chief executive officer now owns 153,475 shares in the company, valued at approximately $7,554,039.50. This trade represents a 1.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,200 shares of company stock valued at $362,622 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of International Seaways

Several large investors have recently bought and sold shares of INSW. EdgeRock Capital LLC purchased a new position in shares of International Seaways during the 2nd quarter worth $28,000. Blue Trust Inc. acquired a new position in International Seaways in the third quarter valued at approximately $41,000. EverSource Wealth Advisors LLC grew its position in International Seaways by 62.8% in the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company's stock worth $44,000 after acquiring an additional 305 shares during the period. Sunbelt Securities Inc. acquired a new stake in International Seaways during the third quarter worth $52,000. Finally, KBC Group NV raised its position in International Seaways by 65.2% in the third quarter. KBC Group NV now owns 1,084 shares of the transportation company's stock valued at $56,000 after purchasing an additional 428 shares during the period. Hedge funds and other institutional investors 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.