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Golden Ocean Group (NASDAQ:GOGL) Now Covered by Analysts at StockNews.com

Golden Ocean Group logo with Transportation background

StockNews.com began coverage on shares of Golden Ocean Group (NASDAQ:GOGL - Free Report) in a research report report published on Tuesday morning. The firm issued a hold rating on the shipping company's stock.

Separately, Jefferies Financial Group lowered their target price on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a research note on Wednesday, April 23rd.

View Our Latest Stock Analysis on GOGL

Golden Ocean Group Stock Performance

Shares of NASDAQ GOGL traded down $0.15 during mid-day trading on Tuesday, reaching $7.48. 2,067,091 shares of the company's stock were exchanged, compared to its average volume of 2,250,759. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 6.18 and a beta of 1.06. Golden Ocean Group has a 52 week low of $6.27 and a 52 week high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a 50-day moving average price of $7.65 and a two-hundred day moving average price of $9.04.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.02%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group's dividend payout ratio (DPR) is currently 53.57%.

Institutional Investors Weigh In On Golden Ocean Group

Several large investors have recently added to or reduced their stakes in GOGL. Jones Financial Companies Lllp increased its holdings in Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company's stock worth $25,000 after acquiring an additional 2,391 shares during the last quarter. CWM LLC increased its holdings in Golden Ocean Group by 330.1% in the 1st quarter. CWM LLC now owns 3,402 shares of the shipping company's stock worth $27,000 after acquiring an additional 2,611 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Golden Ocean Group by 830.1% in the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company's stock worth $35,000 after acquiring an additional 3,478 shares during the last quarter. Quarry LP increased its holdings in Golden Ocean Group by 195.3% in the 4th quarter. Quarry LP now owns 4,981 shares of the shipping company's stock worth $45,000 after acquiring an additional 3,294 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Golden Ocean Group in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 22.00% of the company's stock.

Golden Ocean Group Company Profile

(Get Free Report)

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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