Golden Ocean Group (NASDAQ:GOGL) Shares Gap Up to $13.02

Golden Ocean Group Limited (NASDAQ:GOGL)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $13.02, but opened at $13.51. Golden Ocean Group shares last traded at $13.42, with a volume of 155,085 shares traded.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group cut Golden Ocean Group from a “buy” rating to a “hold” rating and set a $15.50 target price on the stock. in a research note on Wednesday, May 22nd. StockNews.com raised Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Thursday, May 23rd.

Golden Ocean Group Stock Down 0.5 %

The company has a market cap of $2.70 billion, a P/E ratio of 14.53 and a beta of 1.23. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.25 and a current ratio of 1.25. The business’s fifty day moving average is $14.01 and its two-hundred day moving average is $12.14.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings results on Wednesday, May 22nd. The shipping company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $196.70 million for the quarter. Golden Ocean Group had a return on equity of 8.67% and a net margin of 19.92%. Equities analysts predict that Golden Ocean Group Limited will post 1.43 EPS for the current year.

Golden Ocean Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, June 7th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.20 dividend on an annualized basis and a yield of 8.88%. Golden Ocean Group’s dividend payout ratio is presently 129.03%.

Hedge Funds Weigh In On Golden Ocean Group

A number of institutional investors have recently modified their holdings of the stock. VisionPoint Advisory Group LLC purchased a new position in Golden Ocean Group during the fourth quarter valued at approximately $41,000. Blue Trust Inc. acquired a new position in shares of Golden Ocean Group in the 4th quarter valued at $53,000. Fifth Lane Capital LP purchased a new stake in Golden Ocean Group during the first quarter worth $137,000. Lazard Asset Management LLC acquired a new stake in Golden Ocean Group during the first quarter valued at $149,000. Finally, Bayesian Capital Management LP purchased a new position in Golden Ocean Group in the first quarter valued at $151,000. 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.