StockNews.com Initiates Coverage on Overseas Shipholding Group (NYSE:OSG)

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

Overseas Shipholding Group Stock Performance

Shares of OSG opened at $8.49 on Thursday. Overseas Shipholding Group has a one year low of $3.95 and a one year high of $8.50. The company has a 50-day simple moving average of $8.46 and a two-hundred day simple moving average of $6.96. The firm has a market capitalization 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 current ratio of 0.67 and a quick ratio of 0.63.

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

Insider Buying and Selling

In other Overseas Shipholding Group news, CEO Samuel H. Norton sold 50,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $6.74, for a total transaction 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 approximately $16,563,408.46. The sale was disclosed in a document filed with the SEC, which is available through this link. 9.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Overseas Shipholding Group

A number of hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of Overseas Shipholding Group by 24.5% during the 4th quarter. SG Americas Securities LLC now owns 34,607 shares of the transportation company’s stock valued at $182,000 after acquiring an additional 6,802 shares during the period. New York State Teachers Retirement System purchased a new stake in Overseas Shipholding Group in the 4th quarter worth about $29,000. Strs Ohio raised its position in Overseas Shipholding Group by 14.2% in the 4th quarter. Strs Ohio now owns 93,300 shares of the transportation company’s stock worth $491,000 after purchasing an additional 11,600 shares during the period. Acuitas Investments LLC raised its position 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 purchasing an additional 10,063 shares during the period. Finally, Semanteon Capital Management LP purchased a new position in shares of Overseas Shipholding Group during the fourth quarter worth approximately $234,000. 80.92% of the stock is currently owned by hedge funds and other 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.