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

International Seaways Inc. (NYSE:INSW) shares gapped up before the market opened on Friday . The stock had previously closed at $56.30, but opened at $58.43. International Seaways shares last traded at $57.8820, with a volume of 80,650 shares trading hands.

Analysts Set New Price Targets

A number of brokerages recently commented on INSW. Wall Street Zen lowered International Seaways from a “buy” rating to a “hold” rating in a research note on Sunday, December 14th. Weiss Ratings restated a “hold (c+)” rating on shares of International Seaways in a report on Wednesday, October 8th. Zacks Research lowered shares of International Seaways from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Pareto Securities upgraded shares of International Seaways from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.50.

International Seaways Trading Up 2.0%

The stock’s fifty day moving average price is $51.73 and its 200 day moving average price is $47.38. The stock has a market cap of $2.84 billion, a P/E ratio of 13.08 and a beta of -0.18. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.26.

International Seaways (NYSE:INSW) last issued its quarterly earnings results on Thursday, November 6th. The transportation company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.24. International Seaways had a net margin of 28.26% and a return on equity of 10.13%. The company had revenue of $196.39 million during the quarter, compared to analyst estimates of $180.92 million. During the same period last year, the business earned $1.57 EPS. International Seaways’s quarterly revenue was down 12.8% compared to the same quarter last year. Equities research analysts expect that International Seaways Inc. will post 7.77 earnings per share for the current year.

International Seaways Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 23rd. Stockholders of record on Tuesday, December 9th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, December 9th. International Seaways’s dividend payout ratio (DPR) is presently 10.93%.

Insider Buying and Selling

In other International Seaways news, SVP Derek G. Solon sold 3,500 shares of the business’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $53.71, for a total value of $187,985.00. Following the sale, the senior vice president directly owned 49,393 shares of the company’s stock, valued at approximately $2,652,898.03. The trade was a 6.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey Pribor sold 1,000 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $55.68, for a total value of $55,680.00. Following the completion of the sale, the chief financial officer directly owned 79,073 shares in the company, valued at approximately $4,402,784.64. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 32,500 shares of company stock worth $1,732,605. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Seaways

Hedge funds have recently bought and sold shares of the company. Arizona State Retirement System grew its position in International Seaways by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 12,409 shares of the transportation company’s stock valued at $572,000 after purchasing an additional 206 shares during the last quarter. Evergreen Capital Management LLC lifted its stake in shares of International Seaways by 2.9% in the third quarter. Evergreen Capital Management LLC now owns 9,832 shares of the transportation company’s stock worth $453,000 after buying an additional 274 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of International Seaways by 18.3% in the second quarter. Blue Trust Inc. now owns 1,872 shares of the transportation company’s stock worth $68,000 after buying an additional 289 shares in the last quarter. Founders Capital Management grew its holdings in shares of International Seaways by 37.5% during the fourth quarter. Founders Capital Management now owns 1,100 shares of the transportation company’s stock valued at $53,000 after buying an additional 300 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of International Seaways by 8.6% during the fourth quarter. GAMMA Investing LLC now owns 4,367 shares of the transportation company’s stock valued at $212,000 after buying an additional 344 shares during the last quarter. Institutional investors own 67.29% of the company’s stock.

International Seaways Company Profile

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.