Overseas Shipholding Group (NYSE:OSG) Earns Strong-Buy Rating from Analysts at StockNews.com

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

Overseas Shipholding Group Stock Performance

OSG opened at $8.49 on Wednesday. Overseas Shipholding Group has a twelve month low of $3.95 and a twelve month high of $8.50. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 0.93. The company has a fifty day moving average of $8.29 and a 200-day moving average of $6.82. The stock has a market cap of $611.54 million, a PE ratio of 10.35 and a beta of 0.31.

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. The company had revenue of $117.50 million during the quarter. Overseas Shipholding Group had a net margin of 14.26% and a return on equity of 18.38%.

Insiders Place Their Bets

In other Overseas Shipholding Group 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 value of $337,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,457,479 shares in the company, valued at $16,563,408.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.29% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Empowered Funds LLC grew its holdings 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 valued at $2,369,000 after buying an additional 27,990 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Overseas Shipholding Group during the first quarter valued at about $114,000. Brightline Capital Management LLC acquired a new position in shares of Overseas Shipholding Group during the fourth quarter valued at about $2,951,000. Tower Research Capital LLC TRC lifted its position in shares of Overseas Shipholding Group by 255.3% during 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 in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Overseas Shipholding Group by 2.5% during 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 purchasing an additional 119,349 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.