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

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

Overseas Shipholding Group Stock Performance

Shares of NYSE:OSG opened at $8.49 on Thursday. Overseas Shipholding Group has a twelve month low of $3.95 and a twelve month high of $8.50. The firm has a market cap of $611.54 million, a PE 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. The business has a fifty day moving average of $8.46 and a 200-day moving average of $6.94.

Overseas Shipholding Group (NYSE:OSG) last announced its earnings results on Friday, May 10th. The transportation company reported $0.19 earnings per share for the quarter. Overseas Shipholding Group had a return on equity of 18.38% and a net margin of 14.26%. The company had revenue of $117.50 million during the quarter.

Insider Buying and Selling

In related news, CEO Samuel H. Norton sold 50,000 shares of Overseas Shipholding Group 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 9.29% of the company’s stock.

Hedge Funds Weigh In On Overseas Shipholding Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in 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 worth $26,221,000 after buying an additional 119,349 shares during the last quarter. Brightline Capital Management LLC bought a new position in Overseas Shipholding Group during the fourth quarter worth about $2,951,000. Acuitas Investments LLC boosted its holdings in Overseas Shipholding Group by 2.1% during the fourth 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. Empowered Funds LLC boosted its holdings in 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 buying an additional 27,990 shares during the last quarter. Finally, LSV Asset Management bought a new position in Overseas Shipholding Group during the fourth quarter worth about $768,000. 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.