StockNews.com began coverage on shares of Golden Ocean Group (NASDAQ:GOGL - Free Report) in a research note published on Wednesday. The firm issued a hold rating on the shipping company's stock.
Separately, Jefferies Financial Group cut their price objective on Golden Ocean Group from $10.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd.
View Our Latest Stock Report on Golden Ocean Group
Golden Ocean Group Stock Up 0.9%
Shares of NASDAQ:GOGL traded up $0.07 during trading on Wednesday, hitting $8.06. 1,735,388 shares of the company's stock traded hands, compared to its average volume of 2,257,999. Golden Ocean Group has a 52 week low of $6.27 and a 52 week high of $15.77. 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 company has a market cap of $1.61 billion, a price-to-earnings ratio of 6.66 and a beta of 1.06. The company has a 50-day moving average price of $7.61 and a 200-day moving average price of $8.97.
Golden Ocean Group Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.44%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group's payout ratio is 53.57%.
Institutional Investors Weigh In On Golden Ocean Group
Several institutional investors have recently bought and sold shares of the company. MetLife Investment Management LLC lifted its stake in Golden Ocean Group by 1.7% in the 4th quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company's stock valued at $641,000 after acquiring an additional 1,201 shares in the last quarter. State of Wyoming raised its stake in shares of Golden Ocean Group by 10.3% during the 4th quarter. State of Wyoming now owns 13,596 shares of the shipping company's stock worth $122,000 after purchasing an additional 1,268 shares in the last quarter. Deutsche Bank AG raised its stake in shares of Golden Ocean Group by 0.4% during the 1st quarter. Deutsche Bank AG now owns 340,813 shares of the shipping company's stock worth $2,720,000 after purchasing an additional 1,400 shares in the last quarter. Onyx Bridge Wealth Group LLC raised its stake in shares of Golden Ocean Group by 4.5% during the 1st quarter. Onyx Bridge Wealth Group LLC now owns 36,682 shares of the shipping company's stock worth $293,000 after purchasing an additional 1,591 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Golden Ocean Group by 0.6% during the 4th quarter. Swiss National Bank now owns 257,524 shares of the shipping company's stock worth $2,259,000 after purchasing an additional 1,658 shares in the last quarter. Institutional investors own 22.00% of the company's stock.
Golden Ocean Group Company Profile
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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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