Oppenheimer Maintains Overseas Shipholding Group (OSG) Perform Rating

Oppenheimer analyst G. Scott Burk maintained his Perform rating for shares of Overseas Shipholding Group (NYSE: OSG).

The Oppenheimer analyst noted that Overseas Shipholding Group reported a 4th quarter loss below consensus and Oppenheimerestimates, before writing that, "management's near-term priorities include completing the conversion of FSO Africa and continuing the focus on cost-cutting initiatives. We continue to believe that OSG can survive and grow with its balance sheet strength and established operating pools, but we expect losses in the next several quarters as weakness in day rates persists."