Shares of Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) saw an uptick in trading volume on Wednesday . 2,668,211 shares were traded during mid-day trading, an increase of 54% from the previous session's volume of 1,728,955 shares.The stock last traded at $9.85 and had previously closed at $9.40.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on GOGL. Jefferies Financial Group reiterated a "hold" rating and set a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday. 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.
Read Our Latest Research Report on GOGL
Golden Ocean Group Stock Performance
The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $1.94 billion, a P/E ratio of 8.02 and a beta of 1.16. The business has a 50 day moving average of $9.18 and a 200-day moving average of $10.60.
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 (EPS) 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, sell-side analysts predict that Golden Ocean Group Limited will post 1.14 EPS for the current fiscal year.
Golden Ocean Group Cuts Dividend
The firm 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. This represents a $0.60 annualized dividend and a yield of 6.19%. The ex-dividend date is Tuesday, March 11th. Golden Ocean Group's payout ratio is 99.17%.
Hedge Funds Weigh In On Golden Ocean Group
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Golden Ocean Group by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company's stock worth $50,978,000 after buying an additional 71,918 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Golden Ocean Group by 6.9% in the 3rd quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company's stock worth $36,817,000 after purchasing an additional 177,100 shares in the last quarter. Encompass Capital Advisors LLC boosted its holdings in shares of Golden Ocean Group by 1,402.3% in the 4th quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company's stock worth $17,072,000 after purchasing an additional 1,778,571 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Golden Ocean Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,663,334 shares of the shipping company's stock worth $14,903,000 after purchasing an additional 9,041 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Golden Ocean Group by 2.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,651,405 shares of the shipping company's stock worth $14,797,000 after purchasing an additional 33,241 shares in the last quarter. 22.00% of the stock is currently owned by hedge funds and other institutional investors.
About Golden Ocean Group
(
Get Free Report)
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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