Overseas Shipholding Group (NYSE:OSG) Posts Quarterly Earnings Results

Overseas Shipholding Group (NYSE:OSG – Get Rating) released its quarterly earnings data on Monday. The transportation company reported ($0.01) earnings per share for the quarter, reports. The firm had revenue of $104.00 million during the quarter. Overseas Shipholding Group had a negative net margin of 12.88% and a negative return on equity of 11.46%.

OSG stock opened at $2.02 on Wednesday. The business has a 50-day moving average price of $2.14 and a 200 day moving average price of $1.97. Overseas Shipholding Group has a 1-year low of $1.64 and a 1-year high of $3.04. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market capitalization of $177.31 million, a P/E ratio of -3.96 and a beta of 0.30.

Separately, StockNews.com started coverage on Overseas Shipholding Group in a report on Thursday, March 31st. They issued a “buy” rating for the company.

In other Overseas Shipholding Group news, major shareholder Cyrus Capital Partners, L.P. sold 66,700 shares of Overseas Shipholding Group stock in a transaction dated Friday, April 1st. The stock was sold at an average price of $2.19, for a total value of $146,073.00. Following the transaction, the insider now owns 187,918 shares in the company, valued at $411,540.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,290,601 shares of company stock worth $2,744,830 in the last quarter. 5.13% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Clear Harbor Asset Management LLC grew its stake in Overseas Shipholding Group by 74.5% in the first quarter. Clear Harbor Asset Management LLC now owns 35,146 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 15,000 shares during the last quarter. Western Wealth Management LLC purchased a new stake in shares of Overseas Shipholding Group during the first quarter worth about $26,000. BlackRock Inc. grew its stake in shares of Overseas Shipholding Group by 0.8% during the fourth quarter. BlackRock Inc. now owns 1,172,434 shares of the transportation company’s stock worth $2,204,000 after acquiring an additional 8,764 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Overseas Shipholding Group by 4.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 203,117 shares of the transportation company’s stock worth $382,000 after acquiring an additional 8,074 shares during the last quarter. Finally, Susquehanna International Group LLP grew its stake in shares of Overseas Shipholding Group by 59.3% during the fourth quarter. Susquehanna International Group LLP now owns 269,289 shares of the transportation company’s stock worth $506,000 after acquiring an additional 100,288 shares during the last quarter. Institutional investors own 55.33% of the company’s stock.

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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