Golden Ocean Group (NASDAQ:GOGL) Reaches New 52-Week High at $14.88

Golden Ocean Group Limited (NASDAQ:GOGL) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $14.88 and last traded at $14.79, with a volume of 911967 shares trading hands. The stock had previously closed at $14.86.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOGL shares. Jefferies Financial Group reissued a “buy” rating and set a $15.00 price objective on shares of Golden Ocean Group in a report on Wednesday, February 28th. StockNews.com upgraded shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Golden Ocean Group currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Golden Ocean Group Stock Down 0.9 %

The company’s 50-day moving average price is $13.25 and its 200 day moving average price is $10.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.05 and a current ratio of 1.23. The stock has a market cap of $2.94 billion, a PE ratio of 26.54 and a beta of 1.32.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, February 28th. The shipping company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. The business had revenue of $196.75 million during 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, analysts forecast that Golden Ocean Group Limited will post 1.52 EPS for the current fiscal year.

Golden Ocean Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Wednesday, March 13th were given a dividend of $0.30 per share. 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. This represents a $1.20 annualized dividend and a yield of 8.15%. Golden Ocean Group’s payout ratio is 214.29%.

Institutional Trading of Golden Ocean Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. VisionPoint Advisory Group LLC bought a new stake in Golden Ocean Group during the 4th quarter valued at approximately $41,000. Blue Trust Inc. purchased a new position in Golden Ocean Group during the fourth quarter valued at $53,000. Fifth Lane Capital LP bought a new stake in Golden Ocean Group in the 1st quarter valued at $137,000. Vanguard Personalized Indexing Management LLC lifted its stake in Golden Ocean Group by 39.9% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,405 shares of the shipping company’s stock worth $129,000 after purchasing an additional 4,678 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of Golden Ocean Group during the 4th quarter valued at about $171,000. 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.