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

Overseas Shipholding Group, Inc. (NYSE:OSG) was down 0.4% during mid-day trading on Tuesday . The company 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.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on OSG shares. Truist Financial upped their target price on Overseas Shipholding Group from $10.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Overseas Shipholding Group in a report on Monday, December 29th. Finally, DOWLING & PARTN lowered shares of Overseas Shipholding Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

Overseas Shipholding Group Stock Up 4.9%

The stock has a market cap of $261.98 million, a P/E ratio of -0.39 and a beta of 0.86. The company has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $7.88.

Overseas Shipholding Group (NYSE:OSG) last issued its earnings results on Monday, November 10th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $56.77 million.

Insider Activity

In other news, CEO Claude Leblanc acquired 12,000 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were purchased at an average price of $7.59 per share, for a total transaction of $91,080.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.20% of the company’s stock.

Institutional Trading of Overseas Shipholding Group

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in Overseas Shipholding Group by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,993 shares of the transportation company’s stock valued at $128,000 after purchasing an additional 1,615 shares during the period. Bridgeway Capital Management LLC grew its position in shares of Overseas Shipholding Group by 0.7% in the 3rd quarter. Bridgeway Capital Management LLC now owns 319,493 shares of the transportation company’s stock worth $2,665,000 after buying an additional 2,244 shares during the last quarter. CWM LLC increased its stake in shares of Overseas Shipholding Group by 75.7% during the third quarter. CWM LLC now owns 6,961 shares of the transportation company’s stock valued at $58,000 after buying an additional 2,999 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Overseas Shipholding Group by 10.6% during the third quarter. JPMorgan Chase & Co. now owns 34,555 shares of the transportation company’s stock valued at $288,000 after buying an additional 3,324 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Overseas Shipholding Group by 613.5% during the third quarter. Russell Investments Group Ltd. now owns 4,916 shares of the transportation company’s stock valued at $41,000 after acquiring an additional 4,227 shares in the last quarter. 80.92% of the stock is owned by institutional investors.

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.