Golden Ocean Group (NASDAQ:GOGL) Research Coverage Started at StockNews.com

StockNews.com began coverage on shares of Golden Ocean Group (NASDAQ:GOGL) in a research report released on Wednesday morning. The firm issued a hold rating on the shipping company’s stock.

Separately, Jefferies Financial Group decreased their target price on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd.

Golden Ocean Group Trading Up 0.9%

GOGL opened at $8.06 on Wednesday. Golden Ocean Group has a one year low of $6.27 and a one year high of $15.77. The company has a market cap of $1.61 billion, a P/E ratio of 6.66 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50-day simple moving average is $7.61 and its 200-day simple moving average is $8.97.

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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.44%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s payout ratio is currently 53.57%.

Hedge Funds Weigh In On Golden Ocean Group

Several hedge funds have recently bought and sold shares of GOGL. JPMorgan Chase & Co. boosted its holdings in Golden Ocean Group by 31.7% in the third quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock valued at $5,947,000 after acquiring an additional 106,966 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Golden Ocean Group by 196.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock valued at $8,614,000 after acquiring an additional 637,103 shares during the last quarter. Dakota Wealth Management acquired a new position in Golden Ocean Group in the fourth quarter valued at $770,000. SG Americas Securities LLC boosted its holdings in Golden Ocean Group by 26.7% in the fourth quarter. SG Americas Securities LLC now owns 59,951 shares of the shipping company’s stock valued at $537,000 after acquiring an additional 12,647 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Golden Ocean Group by 31.1% in the fourth quarter. Blue Trust Inc. now owns 52,613 shares of the shipping company’s stock valued at $471,000 after acquiring an additional 12,468 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

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.