Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of oil-tankers operator Overseas Shipholding Group
So what: Oil prices are racing higher today, which always helps the tanker operators. Moreover, drilling giant ConocoPhillips
Now what: The good news is very welcome for Overseas, since the company has fallen into a funk with negative earnings and shrinking sales in recent quarters. Share prices are still down 71% year to date. The company recently slashed its dividend in half but still yields a very generous 8.6% at these prices. This would be an awesome time to buy into that dividend if you believe in the tanker industry -- but some stocks tank for a reason. This is hardly a risk-free investment.
Interested in more info about Overseas Shipholding Group? Add it to My Watchlist.