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

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

Overseas Shipholding Group Trading Up 0.1 %

Shares of OSG stock opened at $8.45 on Friday. 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 company has a market cap of $608.65 million, a price-to-earnings ratio of 10.31 and a beta of 0.38. The stock has a 50 day simple moving average of $7.10 and a 200-day simple moving average of $6.20. Overseas Shipholding Group has a 1-year low of $3.80 and a 1-year high of $8.47.

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

Insider Activity at Overseas Shipholding Group

In related news, CEO Samuel H. Norton sold 50,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $6.74, for a total value of $337,000.00. Following the completion of the transaction, the chief executive officer now directly 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 SEC, which can be accessed through the SEC website. In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 20,337 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 2,537,142 shares in the company, valued at approximately $15,172,109.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Samuel H. Norton sold 50,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $6.74, for a total value of $337,000.00. Following the completion of the sale, the chief executive officer now owns 2,457,479 shares of the company’s stock, valued at $16,563,408.46. The disclosure for this sale can be found here. 9.29% of the stock is owned by corporate insiders.

Institutional Trading of Overseas Shipholding Group

Several large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Overseas Shipholding Group by 2.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,975,645 shares of the transportation company’s stock worth $26,221,000 after purchasing an additional 119,349 shares during the period. Brightline Capital Management LLC purchased a new position in shares of Overseas Shipholding Group during the 4th quarter worth $2,951,000. Acuitas Investments LLC grew its holdings in shares of Overseas Shipholding Group by 2.1% during the 4th quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock worth $2,586,000 after purchasing an additional 10,063 shares during the period. Empowered Funds LLC grew its holdings 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 purchasing an additional 27,990 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Overseas Shipholding Group by 74.8% during the 3rd quarter. GSA Capital Partners LLP now owns 333,974 shares of the transportation company’s stock worth $1,466,000 after purchasing an additional 142,959 shares during the period. 80.92% of the stock is currently owned by hedge funds and other institutional investors.

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.