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

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

Overseas Shipholding Group Stock Performance

OSG opened at $8.49 on Tuesday. Overseas Shipholding Group has a 12-month low of $3.95 and a 12-month high of $8.50. The stock has a market cap of $611.53 million, a price-to-earnings ratio of 10.35 and a beta of 0.31. The business has a 50 day moving average of $8.10 and a 200-day moving average of $6.71. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 0.93.

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

Insiders Place Their Bets

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 value of $337,000.00. Following the transaction, the chief executive officer now owns 2,457,479 shares in the company, valued at approximately $16,563,408.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Samuel H. Norton sold 20,337 shares of the business’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $5.98, for a total transaction of $121,615.26. Following the sale, the chief executive officer now owns 2,537,142 shares in the company, valued at approximately $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 Overseas Shipholding Group stock in a transaction dated Wednesday, May 15th. The stock was 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 $16,563,408.46. The disclosure for this sale can be found here. Corporate insiders own 9.29% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of 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 period. Brightline Capital Management LLC bought a new stake in Overseas Shipholding Group during the 4th quarter worth approximately $2,951,000. Acuitas Investments LLC increased its holdings in 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 in the last quarter. Empowered Funds LLC grew its holdings in shares of Overseas Shipholding Group by 8.2% in the first quarter. Empowered Funds LLC now owns 370,115 shares of the transportation company’s stock valued at $2,369,000 after acquiring an additional 27,990 shares in the last quarter. Finally, LSV Asset Management bought a new position in shares of Overseas Shipholding Group in the fourth quarter valued at approximately $768,000. 80.92% of the stock is 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.