Wells Fargo & Company MN Has $731,000 Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Wells Fargo & Company MN increased its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 9.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,530 shares of the shipping company’s stock after acquiring an additional 7,359 shares during the quarter. Wells Fargo & Company MN’s holdings in Golden Ocean Group were worth $731,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in GOGL. Vanguard Group Inc. lifted its position in Golden Ocean Group by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 5,798,672 shares of the shipping company’s stock valued at $50,978,000 after purchasing an additional 71,918 shares during the period. Geode Capital Management LLC raised its stake in shares of Golden Ocean Group by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,663,334 shares of the shipping company’s stock worth $14,903,000 after buying an additional 9,041 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Golden Ocean Group by 229.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,139,248 shares of the shipping company’s stock valued at $10,208,000 after buying an additional 793,470 shares during the period. Empowered Funds LLC boosted its stake in Golden Ocean Group by 3.6% in the fourth quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company’s stock valued at $8,629,000 after acquiring an additional 33,241 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Golden Ocean Group by 196.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock worth $8,614,000 after acquiring an additional 637,103 shares during the period. Institutional investors and hedge funds own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Golden Ocean Group Stock Down 0.8 %

Shares of NASDAQ GOGL opened at $7.66 on Friday. Golden Ocean Group Limited has a 52-week low of $6.27 and a 52-week high of $15.77. 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 stock has a market cap of $1.53 billion, a P/E ratio of 6.33 and a beta of 1.10. The firm has a 50 day moving average price of $7.90 and a 200 day moving average price of $9.21.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 7.83%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio (DPR) is 53.57%.

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.