Golden Ocean Group Limited (NASDAQ:GOGL) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 31.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,453 shares of the shipping company's stock after buying an additional 106,966 shares during the period. JPMorgan Chase & Co. owned about 0.22% of Golden Ocean Group worth $5,947,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in Golden Ocean Group during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC boosted its stake in shares of Golden Ocean Group by 2,319.5% in the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company's stock worth $127,000 after acquiring an additional 8,791 shares during the last quarter. FMR LLC increased its position in shares of Golden Ocean Group by 146.8% during the third 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. Vanguard Personalized Indexing Management LLC raised its stake in Golden Ocean Group by 16.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,420 shares of the shipping company's stock valued at $225,000 after purchasing an additional 2,267 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in Golden Ocean Group by 96.3% in 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. Institutional investors and hedge funds own 22.00% of the company's stock.

Golden Ocean Group Trading Down 1.4 %

NASDAQ:GOGL traded down $0.13 during trading hours on Friday, hitting $8.86. The company had a trading volume of 2,160,368 shares, compared to its average volume of 1,571,184. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77. The company has a market cap of $1.77 billion, a P/E ratio of 7.32 and a beta of 1.18. The company has a 50-day moving average of $9.80 and a 200 day moving average of $11.35. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Monday, December 9th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.54%. The ex-dividend date of this dividend was Monday, December 9th. Golden Ocean Group's dividend payout ratio is currently 99.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GOGL shares. Jefferies Financial Group dropped their target price on shares of Golden Ocean Group from $12.50 to $12.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. StockNews.com cut shares of Golden Ocean Group from a "buy" rating to a "hold" rating in a research note on Saturday, October 5th. Finally, Pareto Securities reissued a "hold" rating and issued a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st.

About Golden Ocean Group

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.