International Seaways (NYSE:INSW) Shares Down 5.8% – Should You Sell?

International Seaways Inc. (NYSE:INSW) fell 5.8% on Thursday . The stock traded as low as $84.35 and last traded at $83.0890. 48,311 shares were traded during trading, a decline of 92% from the average daily volume of 589,543 shares. The stock had previously closed at $88.20.

Analyst Ratings Changes

A number of analysts have recently commented on INSW shares. Weiss Ratings upgraded shares of International Seaways from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 11th. Pareto Securities lowered shares of International Seaways from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Jefferies Financial Group restated a “buy” rating and issued a $100.00 price objective on shares of International Seaways in a report on Friday, May 8th. BTIG Research raised their target price on shares of International Seaways from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Zacks Research cut International Seaways from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 25th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, International Seaways currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

International Seaways Stock Down 7.6%

The company has a market capitalization of $4.04 billion, a PE ratio of 7.42 and a beta of -0.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.28 and a current ratio of 7.34. The company’s 50-day moving average is $83.25 and its 200 day moving average is $71.18.

International Seaways (NYSE:INSW) last issued its earnings results on Thursday, May 7th. The transportation company reported $3.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.87 by $1.03. International Seaways had a net margin of 55.39% and a return on equity of 21.04%. The firm had revenue of $325.48 million for the quarter, compared to the consensus estimate of $279.34 million. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s revenue was up 77.5% on a year-over-year basis. As a group, analysts anticipate that International Seaways Inc. will post 14.99 EPS for the current year.

International Seaways Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.48 annualized dividend and a yield of 0.6%. International Seaways’s dividend payout ratio is 4.37%.

Insiders Place Their Bets

In other news, CFO Jeffrey Pribor sold 1,000 shares of the business’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $81.68, for a total value of $81,680.00. Following the completion of the transaction, the chief financial officer owned 101,984 shares in the company, valued at $8,330,053.12. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP William F. Nugent sold 6,830 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $85.23, for a total value of $582,120.90. Following the transaction, the senior vice president directly owned 49,169 shares in the company, valued at approximately $4,190,673.87. The trade was a 12.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 45,530 shares of company stock valued at $3,923,635. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of International Seaways

Institutional investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of International Seaways by 167.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 608,265 shares of the transportation company’s stock worth $44,330,000 after acquiring an additional 380,931 shares during the period. Amundi bought a new position in International Seaways during the fourth quarter valued at approximately $13,663,000. Acorn Financial Advisory Services Inc. ADV purchased a new stake in International Seaways in the first quarter worth approximately $13,145,000. Tudor Investment Corp ET AL purchased a new stake in International Seaways in the fourth quarter worth approximately $7,087,000. Finally, Frontier Capital Management Co. LLC grew its position in International Seaways by 105.2% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 270,386 shares of the transportation company’s stock worth $9,864,000 after purchasing an additional 138,625 shares during the period. Hedge funds and other institutional investors own 67.29% of the company’s stock.

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.