Overseas Shipholding Group (NYSE:OSG) Upgraded to “Strong-Buy” by StockNews.com

Overseas Shipholding Group (NYSE:OSGGet Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

OSG traded down $0.04 during midday trading on Thursday, reaching $2.00. 292,906 shares of the company’s stock were exchanged, compared to its average volume of 286,851. Overseas Shipholding Group has a 1-year low of $1.64 and a 1-year high of $3.04. The business’s 50-day moving average price is $2.14 and its 200 day moving average price is $1.97. The stock has a market capitalization of $175.55 million, a PE ratio of -3.92 and a beta of 0.30. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.62 and a quick ratio of 0.60.

Overseas Shipholding Group (NYSE:OSGGet Rating) last posted its quarterly earnings results on Monday, May 9th. The transportation company reported ($0.01) earnings per share (EPS) for the quarter. Overseas Shipholding Group had a negative return on equity of 11.46% and a negative net margin of 12.88%. The business had revenue of $104.00 million during the quarter.

In related news, major shareholder Cyrus Capital Partners, L.P. sold 22,182 shares of the firm’s stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $2.10, for a total value of $46,582.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 1,290,601 shares of company stock worth $2,744,830 over the last three months. 5.13% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Western Wealth Management LLC acquired a new stake in shares of Overseas Shipholding Group during the 1st quarter worth approximately $26,000. Royal Bank of Canada lifted its position in shares of Overseas Shipholding Group by 107.7% during the second quarter. Royal Bank of Canada now owns 14,478 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 7,508 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of Overseas Shipholding Group during the third quarter worth $31,000. Ground Swell Capital LLC bought a new stake in Overseas Shipholding Group in the 3rd quarter worth approximately $32,000. Finally, Marshall Wace LLP bought a new position in Overseas Shipholding Group in the 4th quarter worth $58,000. 55.33% of the stock is owned by institutional investors.

About Overseas Shipholding Group (Get Rating)

Overseas Shipholding Group, Inc, together with its subsidiaries, owns and operates a fleet of oceangoing vessels. Its vessels are engaged in the transportation of crude oil and petroleum products in the United States flag trade. As of December 31, 2021, the company owned or operated a fleet of 24 vessels totaling an aggregate of approximately 1.7 million deadweight tons.

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