International Seaways (NYSE:INSW) Trading 6.7% Higher – Time to Buy?

International Seaways, Inc. (NYSE:INSW) rose 6.7% on Monday . The stock traded as high as $30.69 and last traded at $30.69. Approximately 131,135 shares were traded during trading, a decline of 82% from the average daily volume of 720,732 shares. The stock had previously closed at $28.76.

Wall Street Analyst Weigh In

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

International Seaways Price Performance

The company has a debt-to-equity ratio of 0.32, a current ratio of 3.60 and a quick ratio of 3.60. The firm has a market capitalization of $1.56 billion, a P/E ratio of 3.06 and a beta of -0.01. The company’s 50 day moving average price is $35.69 and its 200 day moving average price is $39.88.

International Seaways Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a yield of 1.51%. International Seaways’s payout ratio is 5.72%.

Insider Transactions at International Seaways

In other news, SVP William F. Nugent sold 1,000 shares of International Seaways stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $32.63, for a total transaction of $32,630.00. Following the completion of the sale, the senior vice president now owns 56,846 shares in the company, valued at $1,854,884.98. The trade was a 1.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Derek G. Solon sold 4,400 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $33.39, for a total transaction of $146,916.00. Following the completion of the transaction, the senior vice president now owns 50,453 shares in the company, 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 worth $321,856 over the last 90 days. 1.90% of the stock is owned by insiders.

Institutional Investors Weigh In On International Seaways

A number of institutional investors have recently made changes to their positions in INSW. Banque Transatlantique SA bought a new position in International Seaways during the fourth quarter worth about $29,000. Larson Financial Group LLC bought a new position in International Seaways during the 4th quarter worth approximately $37,000. Quarry LP grew its holdings in International Seaways by 169.0% during the fourth quarter. Quarry LP now owns 1,356 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 852 shares during the period. Sunbelt Securities Inc. bought a new stake in International Seaways in the third quarter valued at approximately $52,000. Finally, R Squared Ltd bought a new stake in International Seaways in the fourth quarter valued at approximately $59,000. 67.29% of the stock is owned by institutional investors and hedge funds.

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.