International Seaways (NYSE:INSW) Lowered to “Hold” at StockNews.com

StockNews.com cut shares of International Seaways (NYSE:INSW) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

Separately, BTIG Research raised their target price on International Seaways from $45.00 to $55.00 and gave the stock a buy rating in a research note on Thursday, September 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, International Seaways currently has an average rating of Moderate Buy and a consensus price target of $60.20.

International Seaways Price Performance

International Seaways stock opened at $46.67 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of 3.62 and a beta of 0.09. The stock has a 50-day moving average price of $45.21 and a two-hundred day moving average price of $41.67. The company has a current ratio of 2.53, a quick ratio of 2.52 and a debt-to-equity ratio of 0.43. International Seaways has a 12 month low of $33.04 and a 12 month high of $53.25.

International Seaways Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 27th. Investors of record on Wednesday, December 13th will be issued a dividend of $1.25 per share. The ex-dividend date is Tuesday, December 12th. This represents a $5.00 dividend on an annualized basis and a yield of 10.71%. International Seaways’s dividend payout ratio (DPR) is currently 3.70%.

Insider Buying and Selling

In related news, CFO Jeffrey Pribor sold 1,000 shares of International Seaways stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $42.53, for a total transaction of $42,530.00. Following the sale, the chief financial officer now directly owns 80,927 shares in the company, valued at $3,441,825.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 5,500 shares of company stock worth $246,985. 2.00% of the stock is owned by company insiders.

Institutional Trading of International Seaways

A number of large investors have recently bought and sold shares of the company. Raymond James & Associates grew its position in shares of International Seaways by 66.3% in the first quarter. Raymond James & Associates now owns 30,045 shares of the transportation company’s stock valued at $542,000 after purchasing an additional 11,977 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of International Seaways by 17.0% in the first quarter. Natixis Advisors L.P. now owns 49,006 shares of the transportation company’s stock valued at $884,000 after purchasing an additional 7,125 shares in the last quarter. BlackRock Inc. grew its position in shares of International Seaways by 0.5% in the first quarter. BlackRock Inc. now owns 3,280,445 shares of the transportation company’s stock valued at $59,180,000 after purchasing an additional 16,434 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of International Seaways by 8.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,838,288 shares of the transportation company’s stock valued at $33,162,000 after purchasing an additional 136,964 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of International Seaways by 1.9% in the first quarter. Vanguard Group Inc. now owns 3,465,109 shares of the transportation company’s stock valued at $62,511,000 after purchasing an additional 64,562 shares in the last quarter. 63.08% of the stock is owned by hedge funds and other institutional investors.

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. It serves independent and state-owned oil companies, oil traders, refinery operators, and international government entities.