Overseas Shipholding Group (NYSE:OSG) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com started coverage on shares of Overseas Shipholding Group (NYSE:OSG) in a research note issued to investors on Monday. The brokerage set a “strong-buy” rating on the transportation company’s stock.

Overseas Shipholding Group Price Performance

NYSE OSG opened at $8.48 on Monday. The company has a market cap of $610.81 million, a price-to-earnings ratio of 10.34 and a beta of 0.38. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.67 and a quick ratio of 0.63. The stock’s fifty day moving average price is $7.63 and its 200 day moving average price is $6.50. Overseas Shipholding Group has a 1 year low of $3.95 and a 1 year high of $8.50.

Overseas Shipholding Group (NYSE:OSG) last announced 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 return on equity of 18.38% and a net margin of 14.26%. The business had revenue of $117.50 million for the quarter.

Insider Activity

In related news, CEO Samuel H. Norton sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were 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 $16,563,408.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 20,337 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $5.98, for a total value of $121,615.26. Following the completion of the transaction, the chief executive officer now directly owns 2,537,142 shares of the company’s stock, valued at $15,172,109.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samuel H. Norton sold 50,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,457,479 shares in the company, valued at approximately $16,563,408.46. The disclosure for this sale can be found here. Insiders own 9.29% of the company’s stock.

Hedge Funds Weigh In On Overseas Shipholding Group

Several large investors have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new stake in Overseas Shipholding Group in the 4th quarter valued at $29,000. Tower Research Capital LLC TRC grew its position in shares of Overseas Shipholding Group by 255.3% in the fourth 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 period. AJOVista LLC purchased a new stake in shares of Overseas Shipholding Group during the fourth quarter worth about $60,000. Principal Financial Group Inc. acquired a new position in shares of Overseas Shipholding Group during the 1st quarter worth about $114,000. Finally, SG Americas Securities LLC lifted its stake in Overseas Shipholding Group by 24.5% in the 4th quarter. SG Americas Securities LLC now owns 34,607 shares of the transportation company’s stock valued at $182,000 after buying an additional 6,802 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.

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.