Overseas Shipholding Group, Inc. (OSG) Announces Quarterly Earnings Results
Overseas Shipholding Group, Inc. (NYSE:OSG) issued its quarterly earnings data on Thursday. The transportation company reported ($0.07) EPS for the quarter, RTT News reports. The firm had revenue of $93.27 million for the quarter. Overseas Shipholding Group had a negative net margin of 71.11% and a positive return on equity of 10.95%. During the same period in the prior year, the company posted ($0.59) earnings per share.
Overseas Shipholding Group (NYSE:OSG) traded up $0.04 during mid-day trading on Friday, reaching $2.78. 397,630 shares of the company’s stock were exchanged, compared to its average volume of 563,725. The stock has a market cap of $188.34, a PE ratio of 3.10 and a beta of 2.04. The company has a current ratio of 1.70, a quick ratio of 1.63 and a debt-to-equity ratio of 1.61. Overseas Shipholding Group has a fifty-two week low of $1.96 and a fifty-two week high of $9.37.
In related news, CEO Samuel H. Norton acquired 20,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were acquired at an average price of $2.00 per share, with a total value of $40,000.00. Following the completion of the transaction, the chief executive officer now owns 125,531 shares in the company, valued at approximately $251,062. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Samuel H. Norton acquired 32,800 shares of the stock in a transaction on Friday, August 25th. The stock was bought at an average cost of $2.02 per share, for a total transaction of $66,256.00. Following the transaction, the insider now owns 125,531 shares of the company’s stock, valued at approximately $253,572.62. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 55,600 shares of company stock worth $111,912.
A hedge fund recently raised its stake in Overseas Shipholding Group stock. State Street Corp grew its holdings in Overseas Shipholding Group, Inc. (NYSE:OSG) by 4.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 779,300 shares of the transportation company’s stock after purchasing an additional 34,225 shares during the period. State Street Corp owned approximately 0.89% of Overseas Shipholding Group worth $2,073,000 at the end of the most recent quarter. 61.60% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine cut shares of Overseas Shipholding Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th.
About Overseas Shipholding Group
Overseas Shipholding Group, Inc (OSG) is a tanker company engaged primarily in the ocean transportation of crude oil and petroleum products. The Company’s vessel operations are organized into strategic business units and focused on market segments: crude oil, refined petroleum products and the United States Flag.
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