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

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

Overseas Shipholding Group Stock Performance

NYSE:OSG remained flat at $8.49 on Friday. The firm has a fifty day moving average of $8.47 and a two-hundred day moving average of $7.09. Overseas Shipholding Group has a 1 year low of $3.95 and a 1 year high of $8.50. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $611.54 million, a price-to-earnings ratio of 10.35 and a beta of 0.31.

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

Insider Activity

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 sale, the chief executive officer now owns 2,457,479 shares in the company, valued at approximately $16,563,408.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 9.29% of the company’s stock.

Institutional Trading of Overseas Shipholding Group

Several institutional investors have recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in shares of Overseas Shipholding Group during the fourth quarter worth $29,000. Tower Research Capital LLC TRC boosted its holdings in shares of Overseas Shipholding Group by 255.3% in the 4th 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. Innealta Capital LLC acquired a new position in Overseas Shipholding Group during the 2nd quarter worth approximately $42,000. AJOVista LLC bought a new position in shares of Overseas Shipholding Group in the 4th quarter worth $60,000. Finally, Principal Financial Group Inc. acquired a new stake in Overseas Shipholding Group in the 1st quarter valued at $114,000. 80.92% of the stock is currently owned by institutional investors.

Overseas Shipholding Group Company Profile

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.