International Seaways (NYSE:INSW) Stock Price Down 5.8% – Should You Sell?

International Seaways Inc. (NYSE:INSW)’s stock price dropped 5.8% on Thursday . The company traded as low as $84.35 and last traded at $83.0890. 48,311 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 589,543 shares. The stock had previously closed at $88.20.

Analyst Ratings Changes

A number of brokerages have commented on INSW. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. BTIG Research increased their target price on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $100.00 price target on shares of International Seaways in a research note on Friday, May 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $86.00.

International Seaways Stock Down 7.6%

The company has a current ratio of 7.34, a quick ratio of 7.28 and a debt-to-equity ratio of 0.26. The stock has a 50 day simple moving average of $83.25 and a 200 day simple moving average of $71.18. The firm has a market capitalization of $4.04 billion, a PE ratio of 7.42 and a beta of -0.12.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Thursday, May 7th. The transportation company reported $3.90 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $1.03. International Seaways had a return on equity of 21.04% and a net margin of 55.39%.The firm had revenue of $325.48 million during the quarter, compared to analyst estimates of $279.34 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 77.5% compared to the same quarter last year. As a group, sell-side analysts forecast that International Seaways Inc. will post 14.99 earnings per share for the current year.

International Seaways Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio is presently 4.37%.

Insider Activity

In other International Seaways news, SVP Derek G. Solon sold 4,700 shares of the firm’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $89.22, for a total value of $419,334.00. Following the sale, the senior vice president owned 49,719 shares of the company’s stock, valued at $4,435,929.18. This trade represents a 8.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 45,530 shares of company stock worth $3,923,635. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Several hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its stake in International Seaways by 11.2% in the first quarter. EverSource Wealth Advisors LLC now owns 1,169 shares of the transportation company’s stock worth $85,000 after acquiring an additional 118 shares during the period. GAMMA Investing LLC raised its holdings in International Seaways by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after purchasing an additional 178 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of International Seaways by 2.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,300 shares of the transportation company’s stock worth $452,000 after purchasing an additional 200 shares during the period. ProShare Advisors LLC lifted its holdings in International Seaways by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock worth $380,000 after buying an additional 241 shares during the period. Finally, Guggenheim Capital LLC grew its holdings in shares of International Seaways by 1.4% during the 4th quarter. Guggenheim Capital LLC now owns 19,760 shares of the transportation company’s stock worth $959,000 after acquiring an additional 275 shares during the period. 67.29% of the stock is owned by hedge funds and other institutional investors.

International Seaways Company Profile

International Seaways, Inc (NYSE: INSW) is an independent tanker company that provides seaborne transportation services to oil companies, commodity traders and national oil companies. The firm’s operations focus on the carriage of crude oil and refined petroleum products, offering both time­ charter and voyage­ charter arrangements. With a modern fleet of very large crude carriers (VLCCs), Suezmax and Aframax tankers, as well as medium range (MR) and Handy product tankers, International Seaways supports global energy supply chains across major trade routes.

Founded in 1997 as Diamond S Shipping, the company completed its initial public offering in the late 1990s and rebranded to International Seaways in September 2018.