StockNews.com Begins Coverage on Overseas Shipholding Group (NYSE:OSG)

StockNews.com started coverage on shares of Overseas Shipholding Group (NYSE:OSG) in a research report report published on Thursday morning. The firm issued a strong-buy rating on the transportation company’s stock.

Overseas Shipholding Group Stock Performance

Shares of OSG opened at $8.49 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The firm has a market cap of $611.54 million, a PE ratio of 10.35 and a beta of 0.31. The company’s 50 day simple moving average is $8.46 and its 200-day simple moving average is $6.96. Overseas Shipholding Group has a 12-month low of $3.95 and a 12-month high of $8.50.

Overseas Shipholding Group (NYSE:OSG) last posted its quarterly earnings data on Friday, May 10th. The transportation company reported $0.19 earnings per share for the quarter. Overseas Shipholding Group had a net margin of 14.26% and a return on equity of 18.38%. The firm had revenue of $117.50 million for the quarter.

Insider Buying and Selling at Overseas Shipholding Group

In other news, CEO Samuel H. Norton sold 50,000 shares of Overseas Shipholding Group stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $6.74, for a total transaction of $337,000.00. Following the completion of the transaction, the chief executive officer now owns 2,457,479 shares of the company’s stock, valued at approximately $16,563,408.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.29% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Empowered Funds LLC raised its stake in shares of Overseas Shipholding Group by 8.2% during the 1st quarter. Empowered Funds LLC now owns 370,115 shares of the transportation company’s stock worth $2,369,000 after buying an additional 27,990 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Overseas Shipholding Group in the 1st quarter valued at about $114,000. Brightline Capital Management LLC acquired a new position in Overseas Shipholding Group in the 4th quarter valued at about $2,951,000. Tower Research Capital LLC TRC raised its stake in Overseas Shipholding Group by 255.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,915 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 4,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Overseas Shipholding Group by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,975,645 shares of the transportation company’s stock valued at $26,221,000 after purchasing an additional 119,349 shares during the last quarter. Institutional investors and hedge funds own 80.92% of the company’s stock.

About Overseas Shipholding Group

Overseas Shipholding Group, Inc, together with its subsidiaries, owns and operates a fleet of oceangoing vessels in the United States. Its vessels are engaged in the transportation of crude oil, petroleum, and renewable transportation fuels in the United States flag trade. As of December 31, 2023, the company owned or operated a fleet of 21 vessels totaling an aggregate of approximately 1.5 million deadweight tons.