Overseas Shipholding Group (OSG) to Release Quarterly Earnings on Monday

Overseas Shipholding Group (NYSE:OSGGet Rating) will post its quarterly earnings results before the market opens on Monday, August 8th. Individual that wish to register for the company’s earnings conference call can do so using this link.

Overseas Shipholding Group (NYSE:OSGGet Rating) last posted its earnings results on Monday, May 9th. The transportation company reported ($0.01) EPS for the quarter. Overseas Shipholding Group had a negative return on equity of 7.19% and a negative net margin of 8.09%. The company had revenue of $104.00 million for the quarter.

Overseas Shipholding Group Stock Up 2.0 %

Shares of OSG opened at $2.59 on Friday. The firm has a market cap of $227.34 million, a P/E ratio of -7.62 and a beta of 0.37. The stock’s 50 day moving average is $2.19 and its two-hundred day moving average is $2.09. Overseas Shipholding Group has a 12 month low of $1.64 and a 12 month high of $2.85. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.29.

Overseas Shipholding Group announced that its board has initiated a stock repurchase program on Monday, June 13th that allows the company to buyback 5,000,000 shares. This buyback authorization allows the transportation company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Samuel H. Norton bought 50,000 shares of Overseas Shipholding Group stock in a transaction that occurred on Wednesday, June 22nd. The shares were purchased at an average price of $2.07 per share, with a total value of $103,500.00. Following the purchase, the chief executive officer now owns 1,972,396 shares in the company, valued at $4,082,859.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Gary Eugene Taylor sold 20,000 shares of Overseas Shipholding Group stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $2.06, for a total value of $41,200.00. Following the completion of the transaction, the director now directly owns 182,841 shares in the company, valued at $376,652.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samuel H. Norton bought 50,000 shares of the business’s stock in a transaction on Wednesday, June 22nd. The stock was acquired at an average cost of $2.07 per share, for a total transaction of $103,500.00. Following the acquisition, the chief executive officer now directly owns 1,972,396 shares of the company’s stock, valued at $4,082,859.72. The disclosure for this purchase can be found here. 6.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Overseas Shipholding Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in OSG. American Century Companies Inc. increased its holdings in shares of Overseas Shipholding Group by 27.3% during the 1st quarter. American Century Companies Inc. now owns 239,050 shares of the transportation company’s stock worth $500,000 after purchasing an additional 51,262 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Overseas Shipholding Group by 0.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,190,525 shares of the transportation company’s stock worth $2,488,000 after acquiring an additional 5,950 shares in the last quarter. XTX Topco Ltd acquired a new position in Overseas Shipholding Group during the first quarter worth approximately $155,000. Renaissance Technologies LLC increased its position in Overseas Shipholding Group by 74.7% during the first quarter. Renaissance Technologies LLC now owns 776,679 shares of the transportation company’s stock worth $1,623,000 after buying an additional 331,990 shares during the last quarter. Finally, State Street Corp lifted its stake in Overseas Shipholding Group by 13.9% during the first quarter. State Street Corp now owns 233,718 shares of the transportation company’s stock worth $488,000 after purchasing an additional 28,455 shares during the last quarter. 55.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Overseas Shipholding Group from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 12th.

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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Earnings History for Overseas Shipholding Group (NYSE:OSG)

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