Shares of Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) saw unusually-high trading volume on Tuesday . Approximately 2,296,619 shares were traded during mid-day 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.
Wall Street Analyst Weigh In
GOGL has been the subject of a number of recent analyst reports. Jefferies Financial Group reiterated a "hold" rating and issued a $10.00 target price on shares of Golden Ocean Group in a research report on Wednesday, February 26th. 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.
Check Out Our Latest Analysis on GOGL
Golden Ocean Group Stock Performance
The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. The company's 50-day moving average price is $9.20 and its two-hundred day moving average price is $10.51. The company has a market cap of $1.75 billion, a P/E ratio of 7.25 and a beta of 1.14.
Golden Ocean Group Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders 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 6.84%. Golden Ocean Group's dividend payout ratio (DPR) is 53.57%.
Hedge Funds Weigh In On Golden Ocean Group
Several large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in Golden Ocean Group during the third quarter valued at about $28,000. Jones Financial Companies Lllp lifted its stake in Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock valued at $25,000 after buying an additional 2,391 shares in the last quarter. Sterling Capital Management LLC lifted its stake in Golden Ocean Group by 830.1% during the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock valued at $35,000 after buying an additional 3,478 shares in the last quarter. Quarry LP lifted its stake in Golden Ocean Group by 195.3% during the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company's stock valued at $45,000 after buying an additional 3,294 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Golden Ocean Group during the fourth quarter valued at about $46,000. 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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