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

Research analysts at StockNews.com began coverage on shares of Overseas Shipholding Group (NYSE:OSG) in a research note issued on Thursday. The firm set a “strong-buy” rating on the transportation company’s stock.

Overseas Shipholding Group Price Performance

Overseas Shipholding Group stock opened at $8.49 on Thursday. Overseas Shipholding Group has a 1 year low of $3.95 and a 1 year high of $8.50. The firm has a 50 day moving average price of $8.46 and a 200 day moving average price of $6.94. The company has a market cap of $611.54 million, a price-to-earnings ratio of 10.35 and a beta of 0.31. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 0.67.

Overseas Shipholding Group (NYSE:OSG) last released its earnings results on Friday, May 10th. The transportation company reported $0.19 earnings per share (EPS) 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 during the quarter.

Insider Activity at Overseas Shipholding Group

In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 50,000 shares of Overseas Shipholding Group stock in a transaction that occurred 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 transaction, the chief executive officer now directly 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 this link. 9.29% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its position in shares of Overseas Shipholding Group by 8.2% during the first 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 in the last quarter. Principal Financial Group Inc. acquired a new stake in Overseas Shipholding Group in the first quarter valued at $114,000. Brightline Capital Management LLC acquired a new stake in Overseas Shipholding Group in the fourth quarter valued at $2,951,000. Tower Research Capital LLC TRC raised its holdings in 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 acquiring an additional 4,969 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Overseas Shipholding Group by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,975,645 shares of the transportation company’s stock valued at $26,221,000 after acquiring an additional 119,349 shares in the last quarter. 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.