JPMorgan Chase & Co. Acquires 106,966 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

JPMorgan Chase & Co. lifted its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 31.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 444,453 shares of the shipping company’s stock after purchasing an additional 106,966 shares during the period. JPMorgan Chase & Co.’s holdings in Golden Ocean Group were worth $5,947,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Two Sigma Advisers LP grew its holdings in Golden Ocean Group by 6.9% during the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock valued at $36,817,000 after purchasing an additional 177,100 shares during the period. Marshall Wace LLP grew its stake in shares of Golden Ocean Group by 96.9% during the 2nd quarter. Marshall Wace LLP now owns 1,557,288 shares of the shipping company’s stock valued at $21,491,000 after acquiring an additional 766,436 shares during the period. Hsbc Holdings PLC increased its holdings in Golden Ocean Group by 55.5% in the 2nd quarter. Hsbc Holdings PLC now owns 1,169,814 shares of the shipping company’s stock worth $16,219,000 after acquiring an additional 417,539 shares in the last quarter. Empowered Funds LLC raised its stake in Golden Ocean Group by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock worth $12,440,000 after acquiring an additional 47,302 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in Golden Ocean Group during the 3rd quarter worth approximately $9,360,000. 22.00% of the stock is owned by institutional investors.

Golden Ocean Group Stock Down 3.0 %

Shares of GOGL opened at $8.99 on Friday. Golden Ocean Group Limited has a 12-month low of $8.52 and a 12-month 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 capitalization of $1.80 billion, a PE ratio of 7.43 and a beta of 1.18. The business’s 50 day moving average is $9.92 and its 200 day moving average is $11.40.

Golden Ocean Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 13.35%. The ex-dividend date was Monday, December 9th. Golden Ocean Group’s dividend payout ratio (DPR) is presently 99.17%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GOGL. Jefferies Financial Group dropped their price target on shares of Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th. Finally, Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research note on Thursday, November 21st.

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.