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 issued to investors on Monday. The brokerage issued a strong-buy rating on the transportation company’s stock.

Overseas Shipholding Group Stock Up 0.1 %

Overseas Shipholding Group stock opened at $8.50 on Monday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.63 and a current ratio of 0.67. The firm has a market capitalization of $612.26 million, a price-to-earnings ratio of 10.37 and a beta of 0.31. Overseas Shipholding Group has a fifty-two week low of $3.95 and a fifty-two week high of $8.50. The stock’s fifty day moving average is $7.77 and its two-hundred day moving average is $6.56.

Overseas Shipholding Group (NYSE:OSG) last posted its quarterly earnings data on Friday, May 10th. The transportation company reported $0.19 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 at Overseas Shipholding Group

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 transaction of $337,000.00. Following the sale, the chief executive officer now owns 2,457,479 shares of the company’s stock, valued at $16,563,408.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 20,337 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $5.98, for a total value of $121,615.26. Following the sale, the chief executive officer now directly owns 2,537,142 shares of the company’s stock, valued at approximately $15,172,109.16. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Samuel H. Norton sold 50,000 shares of the firm’s 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 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 disclosure for this sale can be found here. Corporate insiders own 9.29% of the company’s stock.

Institutional Trading of Overseas Shipholding Group

Hedge funds have recently added to or reduced their stakes in the business. Acuitas Investments LLC boosted its stake in Overseas Shipholding Group by 2.1% in the 4th quarter. Acuitas Investments LLC now owns 490,674 shares of the transportation company’s stock worth $2,586,000 after buying an additional 10,063 shares during the last quarter. Brightline Capital Management LLC acquired a new stake in Overseas Shipholding Group in the 4th quarter worth about $2,951,000. LSV Asset Management purchased a new position in shares of Overseas Shipholding Group in the 4th quarter worth about $768,000. New York State Teachers Retirement System purchased a new position in shares of Overseas Shipholding Group in the 4th quarter worth about $29,000. Finally, Semanteon Capital Management LP purchased a new position in shares of Overseas Shipholding Group in the 4th quarter worth about $234,000. 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.