International Seaways (NYSE:INSW) Stock Price Down 4.1% – Should You Sell?

International Seaways, Inc. (NYSE:INSW)’s share price dropped 4.1% during mid-day trading on Friday . The stock traded as low as $35.85 and last traded at $35.49. Approximately 103,808 shares traded hands during trading, a decline of 90% from the average daily volume of 1,019,570 shares. The stock had previously closed at $37.00.

Wall Street Analyst Weigh In

INSW has been the topic of several research reports. Jefferies Financial Group decreased their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Stifel Nicolaus downgraded shares of International Seaways from a “buy” rating to a “hold” rating and reduced their target price for the stock from $69.00 to $56.00 in a report on Wednesday, October 23rd. Finally, Fearnley Fonds raised shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.67.

International Seaways Stock Down 3.1 %

The firm’s fifty day moving average is $37.83 and its 200-day moving average is $46.13. The company has a market capitalization of $1.76 billion, a P/E ratio of 3.45 and a beta of -0.10. 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 (NYSE:INSW) last issued its earnings results on Thursday, November 7th. The transportation company reported $1.57 earnings per share (EPS) for the quarter, topping 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 for the quarter was down 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.99 EPS. As a group, equities research analysts predict that International Seaways, Inc. will post 8.14 EPS for the current year.

International Seaways Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $1.32 dividend. This is a positive change from International Seaways’s previous quarterly dividend of $0.12. This represents a $5.28 dividend on an annualized basis and a dividend yield of 14.72%. The ex-dividend date of this dividend was Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 1,200 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $38.91, for a total transaction of $46,692.00. Following the completion of the sale, the senior vice president now directly owns 45,687 shares of the company’s stock, valued at approximately $1,777,681.17. The trade was a 2.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $35.07, for a total value of $35,070.00. Following the completion of the sale, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,200 shares of company stock valued at $248,012 over the last quarter. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Several institutional investors have recently modified their holdings of the business. DMC Group LLC grew its holdings in International Seaways by 9.9% during the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company’s stock valued at $215,000 after purchasing an additional 540 shares during the period. R Squared Ltd purchased a new stake in International Seaways during the 4th quarter worth about $59,000. KBC Group NV grew its holdings in International Seaways by 60.2% during the 4th quarter. KBC Group NV now owns 1,737 shares of the transportation company’s stock valued at $62,000 after buying an additional 653 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of International Seaways during the fourth quarter valued at about $735,000. Finally, Nisa Investment Advisors LLC increased its position in shares of International Seaways by 1,677.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 110,945 shares of the transportation company’s stock valued at $3,987,000 after buying an additional 104,704 shares during the period. 67.29% of the stock is owned by institutional investors.

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.