Golden Ocean Group Limited Announces Dividend of $0.05 (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) declared a dividend on Wednesday, May 21st, NASDAQ Dividends reports. Shareholders of record on Thursday, June 5th will be paid a dividend of 0.05 per share by the shipping company on Tuesday, June 17th. The ex-dividend date is Thursday, June 5th.

Golden Ocean Group has decreased its dividend payment by an average of 9.1% per year over the last three years. Golden Ocean Group has a dividend payout ratio of 12.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Golden Ocean Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 21.1%.

Golden Ocean Group Trading Up 0.4%

GOGL stock traded up $0.03 during trading on Wednesday, reaching $7.70. The company had a trading volume of 1,900,379 shares, compared to its average volume of 2,277,963. 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 has a 52 week low of $6.27 and a 52 week high of $14.29. The business has a 50 day moving average of $7.52 and a 200 day moving average of $8.62. The company has a market cap of $1.54 billion, a P/E ratio of 6.36 and a beta of 1.06.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last posted its 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. As a group, sell-side analysts forecast that Golden Ocean Group will post 1.14 earnings per share for the current fiscal year.

Institutional Trading of Golden Ocean Group

An institutional investor recently bought a new position in Golden Ocean Group stock. AQR Capital Management LLC acquired a new stake in Golden Ocean Group Limited (NASDAQ:GOGL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 29,696 shares of the shipping company's stock, valued at approximately $237,000. 22.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOGL has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price target 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. Wall Street Zen began coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They set a "hold" rating for the company.

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.