BNP Paribas Financial Markets Has $387,000 Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

BNP Paribas Financial Markets lessened its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 64.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,173 shares of the shipping company’s stock after selling 79,875 shares during the quarter. BNP Paribas Financial Markets’ holdings in Golden Ocean Group were worth $387,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Jones Financial Companies Lllp lifted its holdings in Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after purchasing an additional 2,391 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Golden Ocean Group by 830.1% in the fourth quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock valued at $35,000 after purchasing an additional 3,478 shares during the period. Quarry LP raised its position in shares of Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 3,294 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Golden Ocean Group in the fourth quarter worth $46,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Golden Ocean Group by 47.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 5,294 shares of the shipping company’s stock worth $47,000 after buying an additional 1,694 shares during the period. Institutional investors and hedge funds own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

GOGL has been the topic of a number of research analyst reports. Jefferies Financial Group lowered their target price on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Wall Street Zen initiated coverage on shares of Golden Ocean Group in a report on Thursday. They set a “hold” rating for the company.

Golden Ocean Group Stock Up 0.8%

Shares of GOGL stock opened at $7.23 on Monday. Golden Ocean Group Limited has a 12 month low of $6.27 and a 12 month high of $14.82. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The firm has a market cap of $1.45 billion, a PE ratio of 5.98 and a beta of 1.06. The stock has a 50 day moving average of $7.58 and a 200-day moving average of $8.81.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings data on Wednesday, May 21st. The shipping company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. The company had revenue of $115.00 million for the quarter, compared to the consensus estimate of $106.48 million. On average, equities analysts predict that Golden Ocean Group Limited will post 1.14 EPS for the current year.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 8.30%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio is presently 53.57%.

Golden Ocean Group 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.