Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) shares saw strong trading volume on Tuesday . 2,296,619 shares traded hands during trading, a decline of 2% from the previous session's volume of 2,346,442 shares.The stock last traded at $9.65 and had previously closed at $9.75.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Pareto Securities restated a "hold" rating and set a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group restated a "hold" rating and set a $10.00 price objective on shares of Golden Ocean Group in a research report on Wednesday, February 26th.
Get Our Latest Stock Analysis on Golden Ocean Group
Golden Ocean Group Trading Up 0.6 %
The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market cap of $1.75 billion, a PE ratio of 7.25 and a beta of 1.14. The company's 50 day simple moving average is $9.20 and its two-hundred day simple moving average is $10.50.
Golden Ocean Group Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.84%. The ex-dividend date of this dividend is Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is presently 53.57%.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. MetLife Investment Management LLC boosted its stake in Golden Ocean Group by 1.7% during the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company's stock worth $641,000 after buying an additional 1,201 shares during the period. State of Wyoming boosted its stake in shares of Golden Ocean Group by 10.3% in the fourth quarter. State of Wyoming now owns 13,596 shares of the shipping company's stock valued at $122,000 after purchasing an additional 1,268 shares during the period. Swiss National Bank boosted its stake in shares of Golden Ocean Group by 0.6% in the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock valued at $2,259,000 after purchasing an additional 1,658 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Golden Ocean Group by 47.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company's stock valued at $47,000 after purchasing an additional 1,694 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Golden Ocean Group by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 108,525 shares of the shipping company's stock valued at $965,000 after purchasing an additional 2,078 shares during the period. Hedge funds and other institutional investors own 22.00% of the company's stock.
Golden Ocean Group Company Profile
(
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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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