Overseas Shipholding Group recently raised its dividend by 40% as shipping rates remain high. The company has surprised on estimates 2 out of the last 4 quarter by an average of 5.14%. Overseas Shipholding has a price-to-book (P/B) of only 1.1.
Company Description
Overseas Shipholding Group, Inc. (OSG), headquartered in New York City, transports crude oil and petroleum products around the world with a fleet of 121 vessels.
As of June 30, 50% of the ships were company-owned, with the remaining bareboat or time chartered in. 35 vessels are also in the newbuild program.
The company, a Zacks #1 Rank (Strong Buy), is a member of Tankers International, Aframax International and Panamax International, which are commercial pools of similar size and quality vessels with different ship owners.
The fleets are combined to act as a single fleet, which members believe improves customer service and vessel utilization
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