Overseas Shipholding Group (NYSE:OSG) Receives New Coverage from Analysts at StockNews.com

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

Overseas Shipholding Group Stock Performance

Shares of OSG stock remained flat at $8.49 during trading hours on Friday. Overseas Shipholding Group has a 12 month low of $3.95 and a 12 month high of $8.50. The firm has a market capitalization of $611.54 million, a price-to-earnings ratio of 10.35 and a beta of 0.31. The company has a 50-day simple moving average of $8.48 and a 200 day simple moving average of $7.16. 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 announced 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 for 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 related news, CEO Samuel H. Norton sold 50,000 shares of the company’s stock in a transaction that occurred 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 $16,563,408.46. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 9.29% of the company’s stock.

Institutional Investors Weigh In On Overseas Shipholding Group

Several institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System purchased a new position in Overseas Shipholding Group during the fourth quarter valued at approximately $29,000. Tower Research Capital LLC TRC boosted its stake in 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 buying an additional 4,969 shares during the period. Innealta Capital LLC bought a new position in Overseas Shipholding Group in the 2nd quarter worth about $42,000. AJOVista LLC purchased a new stake in shares of Overseas Shipholding Group in the 4th quarter valued at about $60,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Overseas Shipholding Group during the 1st quarter valued at about $114,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

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.