International Seaways (NYSE:INSW) Trading 6.7% Higher – Should You Buy?

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

Analysts Set New Price Targets

Several equities analysts have recently commented on INSW shares. Jefferies Financial Group reiterated a “buy” rating and set a $58.00 target price on shares of International Seaways in a research note on Thursday, February 27th. SEB Equity Research set a $50.00 target price on International Seaways in a research report on Friday, January 24th. Two research 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $57.50.

International Seaways Stock Up 6.4 %

The company has a current ratio of 3.60, a quick ratio of 3.60 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.55 billion, a P/E ratio of 3.04 and a beta of -0.01. The firm’s fifty day moving average is $35.10 and its 200-day moving average is $39.48.

International Seaways Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, March 14th. International Seaways’s payout ratio is presently 5.72%.

Insider Buying and Selling at International Seaways

In other news, SVP Derek G. Solon sold 4,400 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $33.39, for a total value of $146,916.00. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP William F. Nugent sold 1,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $32.63, for a total value of $32,630.00. Following the transaction, 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 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 worth $321,856. Corporate insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On International Seaways

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

About International Seaways

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.