Star Bulk Carriers Corp. (NASDAQ:SBLK) Position Increased by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC raised its position in Star Bulk Carriers Corp. (NASDAQ:SBLK - Free Report) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,240,650 shares of the shipping company's stock after purchasing an additional 147,659 shares during the quarter. Encompass Capital Advisors LLC owned 1.48% of Star Bulk Carriers worth $18,548,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Star Bulk Carriers in the 4th quarter worth about $28,000. Parkside Financial Bank & Trust purchased a new position in shares of Star Bulk Carriers in the 4th quarter worth about $30,000. Capital Analysts LLC raised its holdings in shares of Star Bulk Carriers by 215.9% in the 4th quarter. Capital Analysts LLC now owns 2,284 shares of the shipping company's stock worth $34,000 after purchasing an additional 1,561 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Star Bulk Carriers by 177.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,623 shares of the shipping company's stock worth $39,000 after purchasing an additional 1,676 shares during the period. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Star Bulk Carriers in the 4th quarter worth about $45,000. 33.91% of the stock is currently owned by hedge funds and other institutional investors.

Star Bulk Carriers Stock Up 4.4%

NASDAQ SBLK traded up $0.68 during mid-day trading on Monday, reaching $16.20. 1,829,987 shares of the company's stock traded hands, compared to its average volume of 1,824,517. Star Bulk Carriers Corp. has a 1-year low of $12.06 and a 1-year high of $27.47. The company has a fifty day simple moving average of $14.99 and a 200-day simple moving average of $15.94. The company has a current ratio of 1.65, a quick ratio of 1.50 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 5.64 and a beta of 0.89.

Star Bulk Carriers (NASDAQ:SBLK - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The shipping company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.42 by ($0.08). Star Bulk Carriers had a net margin of 24.08% and a return on equity of 12.48%. The business had revenue of $308.92 million for the quarter, compared to analyst estimates of $230.91 million. As a group, equities research analysts expect that Star Bulk Carriers Corp. will post 1.74 EPS for the current year.

Star Bulk Carriers Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Tuesday, March 4th were paid a dividend of $0.09 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.36 dividend on an annualized basis and a yield of 2.22%. Star Bulk Carriers's dividend payout ratio (DPR) is presently 12.54%.

Wall Street Analyst Weigh In

SBLK has been the topic of a number of research reports. Jefferies Financial Group cut their price objective on Star Bulk Carriers from $22.00 to $21.00 and set a "buy" rating on the stock in a report on Wednesday, February 19th. StockNews.com downgraded Star Bulk Carriers from a "buy" rating to a "hold" rating in a report on Thursday, January 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $22.05.

Star Bulk Carriers Profile

Star Bulk Carriers Corp., a shipping company, engages in the ocean transportation of dry bulk cargoes worldwide. Its vessels transport a range of bulk commodities, including iron ores, minerals and grains, bauxite, fertilizers, and steel products. As of December 31, 2023, the company owned a fleet of 116 dry bulk vessels with combined carrying capacity of 13.1 million deadweight tonnage (dwt) consisting of Newcastlemax, Capesize, Post Panamax, Kamsarmax, Panamax, Ultramax, and Supramax vessels with carrying capacities between 53,489 dwt and 209,537 dwt.