Golden Ocean Group Limited (NASDAQ:GOGL) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its position in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 963,005 shares of the shipping company's stock after purchasing an additional 33,241 shares during the quarter. Empowered Funds LLC owned about 0.48% of Golden Ocean Group worth $8,629,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Point72 Hong Kong Ltd purchased a new position in Golden Ocean Group during the 3rd quarter worth $28,000. FMR LLC boosted its stake in Golden Ocean Group by 146.8% in the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company's stock worth $163,000 after purchasing an additional 7,263 shares in the last quarter. Svenska Handelsbanken AB publ purchased a new stake in Golden Ocean Group during the 4th quarter worth approximately $208,000. Quantinno Capital Management LP increased its stake in Golden Ocean Group by 96.3% during the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company's stock valued at $264,000 after purchasing an additional 9,684 shares in the last quarter. Finally, Onyx Bridge Wealth Group LLC lifted its stake in shares of Golden Ocean Group by 10.4% during the fourth quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company's stock worth $314,000 after buying an additional 3,315 shares during the period. 22.00% of the stock is owned by institutional investors and hedge funds.

Golden Ocean Group Stock Performance

Shares of Golden Ocean Group stock traded up $0.18 during trading on Thursday, hitting $9.35. 1,168,951 shares of the company's stock were exchanged, compared to its average volume of 1,681,016. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 7.73 and a beta of 1.16. The business has a 50-day simple moving average of $9.10 and a 200-day simple moving average of $10.81. Golden Ocean Group Limited has a 52-week low of $8.52 and a 52-week high of $15.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last released its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. On average, research analysts forecast that Golden Ocean Group Limited will post 1.14 EPS for the current year.

Golden Ocean Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Monday, December 9th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.20 annualized dividend and a yield of 12.83%. Golden Ocean Group's dividend payout ratio is presently 99.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GOGL shares. Pareto Securities restated a "hold" rating and issued a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st. Jefferies Financial Group reduced their price objective on Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, November 27th.

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.