International Seaways (NYSE:INSW) Trading Down 4.7% – Should You Sell?

International Seaways Inc. (NYSE:INSW) shares dropped 4.7% during mid-day trading on Wednesday . The company traded as low as $94.83 and last traded at $94.3660. 79,640 shares were traded during trading, a decline of 86% from the average daily volume of 570,139 shares. The stock had previously closed at $99.05.

Analysts Set New Price Targets

INSW has been the topic of several research analyst reports. Zacks Research cut shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Monday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of International Seaways in a report on Friday, August 7th. BTIG Research lifted their price target on International Seaways from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Jefferies Financial Group boosted their price objective on shares of International Seaways from $100.00 to $108.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a report on Monday, May 18th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

International Seaways Stock Up 6.3%

The stock has a market cap of $4.93 billion, a PE ratio of 6.37 and a beta of -0.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 5.94 and a quick ratio of 5.76. The company has a 50 day moving average price of $90.25 and a two-hundred day moving average price of $81.03.

International Seaways (NYSE:INSW) last released its quarterly earnings data on Monday, August 10th. The transportation company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.55 by $0.36. International Seaways had a return on equity of 31.75% and a net margin of 61.98%.The company had revenue of $467.29 million for the quarter, compared to analysts’ expectations of $406.38 million. During the same period last year, the firm posted $1.02 earnings per share. International Seaways’s revenue was up 138.9% compared to the same quarter last year. Analysts expect that International Seaways Inc. will post 15.89 EPS for the current year.

International Seaways Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $5.05 per share. This represents a $20.20 dividend on an annualized basis and a dividend yield of 20.3%. The ex-dividend date of this dividend is Thursday, September 10th. This is a boost from International Seaways’s previous quarterly dividend of $0.12. International Seaways’s payout ratio is 3.07%.

Insider Buying and Selling

In other news, CEO Lois K. Zabrocky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $98.44, for a total transaction of $196,880.00. Following the completion of the transaction, the chief executive officer directly owned 173,745 shares of the company’s stock, valued at $17,103,457.80. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey Pribor sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $81.68, for a total transaction of $81,680.00. Following the completion of the sale, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. This represents a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 5,000 shares of company stock valued at $441,240 over the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On International Seaways

Institutional investors and hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its holdings in shares of 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 boosted its position in International Seaways by 4.0% in the second quarter. GAMMA Investing LLC now owns 4,606 shares of the transportation company’s stock worth $353,000 after purchasing an additional 178 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in International Seaways by 2.2% in the fourth 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 last quarter. ProShare Advisors LLC grew its stake in shares of International Seaways by 3.2% during the 4th quarter. ProShare Advisors LLC now owns 7,825 shares of the transportation company’s stock valued at $380,000 after purchasing an additional 241 shares during the period. Finally, Guggenheim Capital LLC increased its position 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 valued at $959,000 after purchasing an additional 275 shares during the last quarter. 67.29% of the stock is currently owned by hedge funds and other institutional investors.

About International Seaways

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.