Golden Ocean Group (NASDAQ:GOGL) Hits New 1-Year High at $14.06

Golden Ocean Group Limited (NASDAQ:GOGL)’s stock price reached a new 52-week high during trading on Friday . The stock traded as high as $14.06 and last traded at $14.02, with a volume of 224040 shares. The stock had previously closed at $13.82.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of Golden Ocean Group in a research report on Friday, January 5th. StockNews.com upgraded Golden Ocean Group from a “sell” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $15.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.

Golden Ocean Group Price Performance

The firm has a market capitalization of $2.80 billion, a PE ratio of 25.09 and a beta of 1.39. The firm’s fifty day moving average price is $12.83 and its 200 day moving average price is $10.45. The company has a current ratio of 1.23, a quick ratio of 1.05 and a debt-to-equity ratio of 0.69.

Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Wednesday, February 28th. The shipping company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. The company had revenue of $196.75 million during the quarter, compared to the consensus estimate of $187.19 million. As a group, equities analysts forecast that Golden Ocean Group Limited will post 1.52 earnings per share for the current 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 issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.54%. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, March 12th. Golden Ocean Group’s dividend payout ratio (DPR) is 214.29%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Folketrygdfondet increased its holdings in shares of Golden Ocean Group by 5.6% during the 4th quarter. Folketrygdfondet now owns 9,402,318 shares of the shipping company’s stock valued at $91,767,000 after purchasing an additional 500,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Golden Ocean Group by 15.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,151,274 shares of the shipping company’s stock valued at $11,236,000 after buying an additional 155,425 shares during the period. Hsbc Holdings PLC increased its holdings in Golden Ocean Group by 108.5% in the fourth quarter. Hsbc Holdings PLC now owns 712,829 shares of the shipping company’s stock valued at $6,928,000 after buying an additional 370,918 shares in the last quarter. Hosking Partners LLP raised its position in shares of Golden Ocean Group by 20.1% in the third quarter. Hosking Partners LLP now owns 707,321 shares of the shipping company’s stock worth $5,574,000 after acquiring an additional 118,173 shares during the period. Finally, Barclays PLC boosted its stake in shares of Golden Ocean Group by 45.2% during the 3rd quarter. Barclays PLC now owns 546,432 shares of the shipping company’s stock worth $4,307,000 after acquiring an additional 170,193 shares in the last quarter. 22.00% of the stock is owned by institutional investors and hedge funds.

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.