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

StockNews.com initiated coverage on shares of Overseas Shipholding Group (NYSE:OSG – Get Rating) in a report released on Thursday. The firm set a “strong-buy” rating on the transportation company’s stock.

Overseas Shipholding Group Price Performance

Shares of NYSE OSG opened at $3.86 on Thursday. The company’s 50-day moving average price is $3.77 and its 200 day moving average price is $3.42. The stock has a market cap of $302.08 million, a price-to-earnings ratio of 8.77 and a beta of 0.45. The company has a current ratio of 0.83, a quick ratio of 0.79 and a debt-to-equity ratio of 1.17. Overseas Shipholding Group has a 52 week low of $1.90 and a 52 week high of $4.02.

Overseas Shipholding Group (NYSE:OSG – Get Rating) last announced its earnings results on Monday, May 8th. The transportation company reported $0.14 EPS for the quarter. The firm had revenue of $113.79 million for the quarter. Overseas Shipholding Group had a return on equity of 11.38% and a net margin of 8.23%.

Overseas Shipholding Group announced that its board has initiated a stock buyback program on Friday, March 17th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Overseas Shipholding Group news, Director Julie Silcock sold 66,584 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $3.48, for a total transaction of $231,712.32. Following the sale, the director now directly owns 93,512 shares of the company’s stock, valued at approximately $325,421.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Douglas D. Wheat sold 143,000 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $3.42, for a total transaction of $489,060.00. Following the transaction, the chairman now directly owns 210,633 shares in the company, valued at approximately $720,364.86. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Julie Silcock sold 66,584 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $3.48, for a total transaction of $231,712.32. Following the completion of the sale, the director now owns 93,512 shares of the company’s stock, valued at $325,421.76. The disclosure for this sale can be found here. 6.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Overseas Shipholding Group

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of Overseas Shipholding Group by 12.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,536,937 shares of the transportation company’s stock valued at $17,694,000 after purchasing an additional 501,667 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Overseas Shipholding Group by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,936,255 shares of the transportation company’s stock valued at $8,721,000 after purchasing an additional 130,453 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Overseas Shipholding Group by 21.2% in the 3rd quarter. BlackRock Inc. now owns 1,425,010 shares of the transportation company’s stock valued at $4,232,000 after purchasing an additional 249,357 shares during the last quarter. Portolan Capital Management LLC boosted its holdings in shares of Overseas Shipholding Group by 62.4% in the 1st quarter. Portolan Capital Management LLC now owns 1,369,748 shares of the transportation company’s stock valued at $5,342,000 after purchasing an additional 526,385 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. lifted its stake in shares of Overseas Shipholding Group by 1.3% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,230,875 shares of the transportation company’s stock valued at $3,557,000 after purchasing an additional 15,375 shares in the last quarter. Hedge funds and other institutional investors own 51.62% of the company’s stock.

Overseas Shipholding Group Company Profile

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Overseas Shipholding Group, Inc engages in the provision of energy transportation services for crude oil and petroleum products in the U.S. Flag trade. It operates Articulated Tug Barges (ATB), lightering ATBs, shuttle tankers, Medium Range (MR) tankers, and non-Jones Act MR tankers that participate in the maritime security program.