Bank of New York Mellon Corp Has $10.21 Million Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Bank of New York Mellon Corp raised its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 229.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,139,248 shares of the shipping company's stock after purchasing an additional 793,470 shares during the quarter. Bank of New York Mellon Corp owned 0.57% of Golden Ocean Group worth $10,208,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of GOGL. New York State Common Retirement Fund increased its holdings in shares of Golden Ocean Group by 16.5% during the fourth quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company's stock worth $1,991,000 after buying an additional 31,500 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Golden Ocean Group by 3.6% during the fourth quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock worth $8,629,000 after purchasing an additional 33,241 shares in the last quarter. Kingsview Wealth Management LLC bought a new stake in Golden Ocean Group during the 4th quarter worth approximately $519,000. Onyx Bridge Wealth Group LLC lifted its holdings in shares of Golden Ocean Group by 10.4% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company's stock valued at $314,000 after purchasing an additional 3,315 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Golden Ocean Group by 33.8% during the 4th quarter. Jennison Associates LLC now owns 74,443 shares of the shipping company's stock worth $667,000 after acquiring an additional 18,811 shares in the last quarter. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Trading Down 2.7 %

GOGL opened at $7.88 on Friday. The company has a market cap of $1.58 billion, a P/E ratio of 6.51 and a beta of 1.14. The company has a fifty day moving average price of $9.12 and a two-hundred day moving average price of $10.41. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 1-year low of $7.62 and a 1-year high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Tuesday, March 11th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 11th. This represents a $0.60 annualized dividend and a dividend yield of 7.61%. Golden Ocean Group's payout ratio is 53.57%.

Analyst Upgrades and Downgrades

GOGL has been the topic of a number of analyst reports. Pareto Securities reiterated a "hold" rating and set a $12.50 price objective on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group reiterated a "hold" rating and issued a $10.00 price target on shares of Golden Ocean Group in a research note on Wednesday, February 26th.

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Golden Ocean Group Profile

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company's dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.

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