BNP Paribas Financial Markets Has $387,000 Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

BNP Paribas Financial Markets reduced its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 64.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,173 shares of the shipping company's stock after selling 79,875 shares during the quarter. BNP Paribas Financial Markets' holdings in Golden Ocean Group were worth $387,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Golden Ocean Group by 1.3% during the 4th 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 during the last quarter. Geode Capital Management LLC grew its stake in shares of Golden Ocean Group by 0.5% in the fourth 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. Mirabella Financial Services LLP grew its stake in shares of Golden Ocean Group by 114.2% in the fourth quarter. Mirabella Financial Services LLP now owns 1,499,244 shares of the shipping company's stock worth $13,222,000 after purchasing an additional 799,244 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Golden Ocean Group by 229.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock worth $10,208,000 after purchasing an additional 793,470 shares in the last quarter. Finally, Empowered Funds LLC grew its stake in shares of Golden Ocean Group by 3.6% in the fourth quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company's stock worth $8,629,000 after purchasing an additional 33,241 shares in the last quarter. 22.00% of the stock is currently owned by institutional investors.

Golden Ocean Group Stock Up 3.8%

Golden Ocean Group stock traded up $0.28 during mid-day trading on Thursday, hitting $7.45. The company's stock had a trading volume of 2,124,772 shares, compared to its average volume of 2,248,127. The firm's 50 day moving average is $7.55 and its 200 day moving average is $8.76. The company has a market cap of $1.49 billion, a PE ratio of 6.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. Golden Ocean Group Limited has a 52-week low of $6.27 and a 52-week high of $14.64.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. The firm had revenue of $115.00 million for the quarter, compared to analysts' expectations of $106.48 million. On average, analysts anticipate that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, June 5th will be issued a $0.05 dividend. The ex-dividend date is Thursday, June 5th. Golden Ocean Group's dividend payout ratio (DPR) is currently 35.09%.

Wall Street Analyst Weigh In

GOGL has been the subject of several recent analyst reports. Wall Street Zen initiated coverage on Golden Ocean Group in a research note on Thursday, May 22nd. They issued a "hold" rating for the company. Jefferies Financial Group decreased their price target on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd.

Golden Ocean Group Company Profile

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.