Teza Capital Management LLC Takes $658,000 Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Teza Capital Management LLC acquired a new stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 73,393 shares of the shipping company's stock, valued at approximately $658,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOGL. Vanguard Group Inc. boosted its stake in shares of 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 purchasing an additional 71,918 shares during the last quarter. Encompass Capital Advisors LLC boosted its position in Golden Ocean Group by 1,402.3% during the fourth quarter. Encompass Capital Advisors LLC now owns 1,905,407 shares of the shipping company's stock worth $17,072,000 after acquiring an additional 1,778,571 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 acquiring an additional 9,041 shares during the period. Bridgeway Capital Management LLC grew its stake in 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 acquiring an additional 33,241 shares during the period. Finally, Mirabella Financial Services LLP raised its holdings 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 during the last quarter. Hedge funds and other institutional investors own 22.00% of the company's stock.

Analyst Upgrades and Downgrades

GOGL has been the topic of several analyst reports. StockNews.com began coverage on Golden Ocean Group in a report on Wednesday, May 14th. They set a "hold" rating on the stock. Jefferies Financial Group decreased their target price on shares of 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 Trading Down 0.9%

GOGL stock opened at $7.99 on Tuesday. Golden Ocean Group Limited has a 52 week low of $6.27 and a 52 week high of $15.77. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 6.60 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The business has a fifty day simple moving average of $7.61 and a 200-day simple moving average of $8.92.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.51%. Golden Ocean Group's dividend payout ratio (DPR) is 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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