International Seaways (NYSE:INSW) Trading Up 6.7% - Still a Buy?

Shares of International Seaways, Inc. (NYSE:INSW - Get Free Report) traded up 6.7% on Monday . The company traded as high as $30.69 and last traded at $30.69. 131,135 shares traded hands during trading, a decline of 82% from the average session volume of 720,732 shares. The stock had previously closed at $28.76.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INSW shares. SEB Equity Research set a $50.00 price target on shares of International Seaways in a research report on Friday, January 24th. Jefferies Financial Group reiterated a "buy" rating and issued a $58.00 target price on shares of International Seaways in a research report on Thursday, February 27th. Two equities 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. Based on data from MarketBeat.com, International Seaways has a consensus rating of "Moderate Buy" and a consensus price target of $57.50.

International Seaways Stock Performance

The stock has a market cap of $1.64 billion, a P/E ratio of 3.22 and a beta of -0.01. The firm's 50-day moving average is $34.78 and its two-hundred day moving average is $39.21. The company has a quick ratio of 3.60, a current ratio of 3.60 and a debt-to-equity ratio of 0.32.

International Seaways Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.44%. International Seaways's dividend payout ratio (DPR) is currently 5.72%.

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Insider Activity

In other International Seaways news, SVP William F. Nugent sold 1,000 shares of the business's stock in a transaction 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 transaction, the senior vice president now owns 56,846 shares of the company's stock, valued at $1,854,884.98. The trade was a 1.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of International Seaways stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $34.66, for a total value of $69,320.00. Following the completion of the transaction, the chief executive officer now owns 179,557 shares in the company, valued at $6,223,445.62. The trade was a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,400 shares of company stock valued at $321,856. Insiders own 1.90% of the company's stock.

Institutional Trading of International Seaways

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Glenorchy Capital Ltd lifted its stake in shares of International Seaways by 0.6% in the fourth quarter. Glenorchy Capital Ltd now owns 50,328 shares of the transportation company's stock valued at $1,809,000 after buying an additional 322 shares during the period. Bfsg LLC increased its position in shares of International Seaways by 14.9% during the fourth quarter. Bfsg LLC now owns 2,748 shares of the transportation company's stock valued at $99,000 after purchasing an additional 357 shares during the period. Farther Finance Advisors LLC raised its stake in shares of International Seaways by 3.6% in the fourth quarter. Farther Finance Advisors LLC now owns 10,444 shares of the transportation company's stock valued at $375,000 after purchasing an additional 360 shares in the last quarter. Franklin Resources Inc. lifted its position in International Seaways by 0.8% in the third quarter. Franklin Resources Inc. now owns 47,891 shares of the transportation company's stock worth $2,428,000 after purchasing an additional 379 shares during the period. Finally, DMC Group LLC boosted its stake in International Seaways by 9.9% during the fourth quarter. DMC Group LLC now owns 5,974 shares of the transportation company's stock worth $215,000 after buying an additional 540 shares in the last quarter. Institutional investors and hedge funds 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.