International Seaways (NYSE:INSW) Shares Gap Up – Still a Buy?

International Seaways, Inc. (NYSE:INSW)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $38.17, but opened at $40.60. International Seaways shares last traded at $41.18, with a volume of 281,591 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Fearnley Fonds upgraded International Seaways to a “strong-buy” rating in a research note on Friday, September 27th. Jefferies Financial Group dropped their price objective on shares of International Seaways from $66.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, Stifel Nicolaus cut 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 research report on Wednesday, October 23rd. Two investment 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.67.

International Seaways Trading Up 8.1 %

The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 3.99 and a beta of -0.10. The business’s 50 day moving average price is $38.52 and its 200-day moving average price is $47.49. 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 released its quarterly earnings data on Thursday, November 7th. The transportation company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.15. International Seaways had a net margin of 50.91% and a return on equity of 24.65%. The firm had revenue of $225.20 million during the quarter, compared to the consensus estimate of $208.75 million. During the same quarter in the previous year, the company posted $1.99 earnings per share. The firm’s revenue was down 6.8% on a year-over-year basis. Equities analysts expect that International Seaways, Inc. will post 7.92 EPS for the current year.

International Seaways Increases Dividend

The business also recently declared 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 12.79%. The ex-dividend date of this dividend was Friday, December 13th. International Seaways’s dividend payout ratio is currently 4.64%.

Insider Transactions at International Seaways

In related news, SVP William F. Nugent sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $35.07, for a total transaction of $35,070.00. Following the transaction, the senior vice president now directly owns 49,803 shares of the company’s stock, valued at approximately $1,746,591.21. The trade was a 1.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lois K. Zabrocky sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $49.22, for a total value of $98,440.00. Following the completion of the transaction, the chief executive officer now owns 153,475 shares in the company, valued at $7,554,039.50. This represents a 1.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,200 shares of company stock valued at $346,452. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of International Seaways

A number of institutional investors have recently added to or reduced their stakes in INSW. Blue Trust Inc. acquired a new stake in International Seaways in the 3rd quarter worth $41,000. EverSource Wealth Advisors LLC increased its stake in International Seaways by 62.8% during the second quarter. EverSource Wealth Advisors LLC now owns 791 shares of the transportation company’s stock valued at $44,000 after acquiring an additional 305 shares during the period. Sunbelt Securities Inc. acquired a new position in International Seaways in the 3rd quarter valued at approximately $52,000. KBC Group NV lifted its position in shares of International Seaways by 65.2% in the 3rd quarter. KBC Group NV now owns 1,084 shares of the transportation company’s stock worth $56,000 after acquiring an additional 428 shares during the period. Finally, Quarry LP grew its holdings in shares of International Seaways by 408.0% during the 2nd quarter. Quarry LP now owns 1,453 shares of the transportation company’s stock worth $86,000 after purchasing an additional 1,167 shares in the last quarter. 67.29% of the stock is currently 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.