International Seaways (NYSE:INSW) Stock Price Down 2.9% – What’s Next?

International Seaways, Inc. (NYSE:INSW) fell 2.9% during mid-day trading on Tuesday . The stock traded as low as $31.29 and last traded at $30.73. 29,972 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 723,420 shares. The stock had previously closed at $31.65.

Wall Street Analyst Weigh In

INSW has been the topic of a number of analyst reports. SEB Equity Research set a $50.00 price target on International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 price target on shares of International Seaways in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Stock Performance

The company has a market cap of $1.48 billion, a PE ratio of 2.90 and a beta of -0.01. The stock has a 50 day simple moving average of $35.69 and a two-hundred day simple moving average of $39.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.60%. International Seaways’s dividend payout ratio is presently 5.72%.

Insider Buying and Selling

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $33.89, for a total transaction of $33,890.00. Following the transaction, the senior vice president now owns 55,852 shares in the company, valued at approximately $1,892,824.28. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Derek G. Solon sold 4,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the sale, the senior vice president now directly owns 50,453 shares of the company’s stock, valued at $1,684,625.67. This represents a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,400 shares of company stock valued at $321,856 over the last three months. 1.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of INSW. Banque Transatlantique SA acquired a new position in shares of International Seaways during the 4th quarter worth $29,000. Larson Financial Group LLC purchased a new position in International Seaways in the fourth quarter valued at about $37,000. Quarry LP lifted its position in shares of International Seaways by 169.0% during the 4th quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 852 shares during the period. Sunbelt Securities Inc. purchased a new stake in shares of International Seaways during the 3rd quarter worth approximately $52,000. Finally, R Squared Ltd acquired a new stake in shares of International Seaways in the 4th quarter worth approximately $59,000. Hedge funds and other institutional investors own 67.29% of the company’s stock.

International Seaways 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. 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.