Lazard Asset Management LLC Buys 38,913 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Lazard Asset Management LLC lifted its stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) by 41.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,524 shares of the shipping company's stock after purchasing an additional 38,913 shares during the quarter. Lazard Asset Management LLC owned about 0.07% of Golden Ocean Group worth $1,187,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Encompass Capital Advisors LLC lifted its position in 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 valued at $17,072,000 after acquiring an additional 1,778,571 shares in the last quarter. Mirabella Financial Services LLP lifted its position in Golden Ocean Group by 114.2% in the 4th quarter. Mirabella Financial Services LLP now owns 1,499,244 shares of the shipping company's stock valued at $13,222,000 after acquiring an additional 799,244 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Golden Ocean Group by 229.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company's stock valued at $10,208,000 after acquiring an additional 793,470 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Golden Ocean Group by 196.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company's stock valued at $8,614,000 after acquiring an additional 637,103 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Golden Ocean Group by 2,893.9% in the 4th quarter. Victory Capital Management Inc. now owns 414,121 shares of the shipping company's stock valued at $3,711,000 after acquiring an additional 400,289 shares in the last quarter. 22.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. StockNews.com assumed coverage on Golden Ocean Group in a research report on Wednesday, May 14th. They issued a "hold" rating on the stock. Jefferies Financial Group lowered their price objective on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd.

Golden Ocean Group Price Performance

Shares of GOGL opened at $7.99 on Tuesday. The firm has a market cap of $1.60 billion, a PE ratio of 6.60 and a beta of 1.06. 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 firm has a fifty day simple moving average of $7.61 and a two-hundred day simple moving average of $8.92. Golden Ocean Group Limited has a 1-year low of $6.27 and a 1-year high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a yield of 7.51%. Golden Ocean Group's dividend payout ratio is presently 53.57%.

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.

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