Overseas Shipholding Group (NYSE:OSG) Stock Price Down 0.4% – What’s Next?

Overseas Shipholding Group, Inc. (NYSE:OSG)’s share price dropped 0.4% during trading on Tuesday . The stock traded as low as $5.56 and last traded at $5.67. Approximately 679,795 shares traded hands during trading, a decline of 10% from the average daily volume of 751,817 shares. The stock had previously closed at $5.69.

Analysts Set New Price Targets

OSG has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Overseas Shipholding Group in a report on Monday, December 29th. DOWLING & PARTN lowered shares of Overseas Shipholding Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 2nd. Finally, Truist Financial boosted their target price on shares of Overseas Shipholding Group from $10.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.00.

Overseas Shipholding Group Stock Up 4.9%

The firm has a 50 day moving average price of $6.70 and a 200 day moving average price of $7.88. The stock has a market capitalization of $261.98 million, a PE ratio of -0.39 and a beta of 0.86.

Overseas Shipholding Group (NYSE:OSG) last posted its quarterly earnings data on Monday, November 10th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.02. Overseas Shipholding Group had a negative net margin of 290.22% and a negative return on equity of 3.17%. The firm had revenue of $66.61 million for the quarter, compared to the consensus estimate of $56.77 million.

Insider Activity at Overseas Shipholding Group

In other Overseas Shipholding Group news, CEO Claude Leblanc purchased 12,000 shares of the company’s stock in a transaction that occurred on Friday, January 2nd. The shares were acquired at an average cost of $7.59 per share, for a total transaction of $91,080.00. Following the completion of the acquisition, the chief executive officer owned 1,033,777 shares of the company’s stock, valued at $7,846,367.43. The trade was a 1.17% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.20% of the company’s stock.

Institutional Trading of Overseas Shipholding Group

A number of large investors have recently added to or reduced their stakes in OSG. Western Standard LLC purchased a new stake in Overseas Shipholding Group in the third quarter worth $22,029,000. Continental General Insurance Co. bought a new position in Overseas Shipholding Group in the 2nd quarter worth about $8,650,000. Gendell Jeffrey L boosted its position in shares of Overseas Shipholding Group by 99.0% in the second quarter. Gendell Jeffrey L now owns 1,198,420 shares of the transportation company’s stock valued at $8,509,000 after acquiring an additional 596,134 shares during the period. Wolf Hill Capital Management LP boosted its holdings in Overseas Shipholding Group by 67.0% in the 3rd quarter. Wolf Hill Capital Management LP now owns 1,158,197 shares of the transportation company’s stock valued at $9,659,000 after purchasing an additional 464,753 shares during the period. Finally, Marshall Wace LLP boosted its stake in Overseas Shipholding Group by 215.5% during the second quarter. Marshall Wace LLP now owns 648,155 shares of the transportation company’s stock valued at $4,602,000 after buying an additional 442,750 shares during the period. Hedge funds and other institutional investors own 80.92% of the company’s stock.

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. It serves independent oil traders, refinery operators, and the United States and international government entities.