Golden Ocean Group (NASDAQ:GOGL) Hits New 12-Month High at $15.12

Golden Ocean Group Limited (NASDAQ:GOGL - Get Free Report) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $15.12 and last traded at $15.09, with a volume of 500424 shares. The stock had previously closed at $14.75.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $15.00 target price on shares of Golden Ocean Group in a research report on Wednesday, February 28th. StockNews.com downgraded Golden Ocean Group from a "hold" rating to a "sell" rating in a research report on Monday.

Golden Ocean Group Price Performance

The business's 50 day simple moving average is $13.47 and its two-hundred day simple moving average is $11.06. The stock has a market capitalization of $3.02 billion, a P/E ratio of 26.88 and a beta of 1.32. The company has a quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Golden Ocean Group (NASDAQ:GOGL - Get Free Report) last released its quarterly earnings results on Wednesday, February 28th. The shipping company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.07. The business had revenue of $196.75 million for the quarter, compared to analysts' expectations of $187.19 million. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. As a group, sell-side analysts forecast that Golden Ocean Group Limited will post 1.52 earnings per share for the current fiscal year.

Golden Ocean Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Wednesday, March 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.94%. The ex-dividend date of this dividend was Tuesday, March 12th. This is an increase from Golden Ocean Group's previous quarterly dividend of $0.10. Golden Ocean Group's dividend payout ratio (DPR) is 214.29%.

Hedge Funds Weigh In On Golden Ocean Group

A number of large investors have recently modified their holdings of GOGL. VisionPoint Advisory Group LLC bought a new stake in shares of Golden Ocean Group during the fourth quarter valued at approximately $41,000. Blue Trust Inc. purchased a new position in Golden Ocean Group during the 4th quarter valued at about $53,000. Vanguard Personalized Indexing Management LLC boosted its stake in Golden Ocean Group by 39.9% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 16,405 shares of the shipping company's stock worth $129,000 after acquiring an additional 4,678 shares in the last quarter. Fifth Lane Capital LP purchased a new stake in Golden Ocean Group in the first quarter worth about $137,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of Golden Ocean Group by 64.1% during the third quarter. Commonwealth Equity Services LLC now owns 17,626 shares of the shipping company's stock valued at $139,000 after purchasing an additional 6,884 shares in the last quarter. 22.00% of the stock is owned by hedge funds and other institutional investors.

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.

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