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

StockNews.com initiated coverage on shares of Overseas Shipholding Group (NYSE:OSG) in a research note issued to investors on Sunday morning. The brokerage issued a strong-buy rating on the transportation company’s stock.

Overseas Shipholding Group Stock Performance

Shares of Overseas Shipholding Group stock opened at $8.47 on Friday. The firm’s fifty day simple moving average is $7.38 and its 200-day simple moving average is $6.37. Overseas Shipholding Group has a 12 month low of $3.89 and a 12 month high of $8.48. 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 has a market capitalization of $610.09 million, a price-to-earnings ratio of 10.33 and a beta of 0.38.

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 Activity at Overseas Shipholding Group

In related news, CEO Samuel H. Norton sold 50,000 shares of Overseas Shipholding Group 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 transaction, the chief executive officer now directly owns 2,457,479 shares in the company, valued at approximately $16,563,408.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 20,337 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $5.98, for a total transaction of $121,615.26. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Samuel H. Norton sold 50,000 shares of the business’s 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 sale, the chief executive officer now owns 2,457,479 shares in the company, valued at $16,563,408.46. The disclosure for this sale can be found here. 9.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Overseas Shipholding Group

Institutional investors have recently made changes to their positions in the stock. Acuitas Investments LLC boosted its position in shares of Overseas Shipholding Group by 2.1% in the 4th quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock worth $2,586,000 after buying an additional 10,063 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Overseas Shipholding Group in the 4th quarter worth about $768,000. Brightline Capital Management LLC purchased a new stake in shares of Overseas Shipholding Group in the 4th quarter worth about $2,951,000. New York State Teachers Retirement System purchased a new stake in shares of Overseas Shipholding Group in the 4th quarter worth about $29,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of Overseas Shipholding Group in the 4th quarter worth about $234,000. 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.