Separately, Danske upgraded Golden Ocean Group from a hold rating to a buy rating in a research report on Friday, November 22nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $7.25.
Shares of Golden Ocean Group stock traded up $0.11 during midday trading on Friday, hitting $5.42. 326,051 shares of the company were exchanged, compared to its average volume of 225,624. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $792.27 million, a P/E ratio of 24.00 and a beta of 2.04. Golden Ocean Group has a 52 week low of $4.33 and a 52 week high of $7.16. The firm has a 50 day simple moving average of $5.71 and a 200-day simple moving average of $5.78.
Golden Ocean Group (NASDAQ:GOGL) last posted its earnings results on Thursday, November 21st. The shipping company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. The business had revenue of $219.34 million during the quarter. Golden Ocean Group had a return on equity of 2.20% and a net margin of 3.10%.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Tuesday, December 3rd will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 11.07%.
A number of hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in Golden Ocean Group by 2,751.5% during the 3rd quarter. Millennium Management LLC now owns 795,039 shares of the shipping company’s stock valued at $4,627,000 after purchasing an additional 767,158 shares in the last quarter. Barclays PLC increased its holdings in Golden Ocean Group by 127.0% during the 3rd quarter. Barclays PLC now owns 1,533,340 shares of the shipping company’s stock valued at $8,924,000 after purchasing an additional 857,837 shares in the last quarter. Virtu Financial LLC acquired a new stake in Golden Ocean Group during the 3rd quarter valued at $120,000. SG Americas Securities LLC acquired a new stake in Golden Ocean Group during the 3rd quarter valued at $301,000. Finally, Russell Investments Group Ltd. increased its holdings in Golden Ocean Group by 192.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,676,146 shares of the shipping company’s stock valued at $27,156,000 after purchasing an additional 3,074,790 shares in the last quarter. 18.45% of the stock is owned by hedge funds and other institutional investors.
Golden Ocean Group Company Profile
Golden Ocean Group Limited, a shipping company, engages in the transportation of bulk commodities worldwide. It owns and operates a fleet of dry bulk vessels, including Newcastlemax, Capesize, Panamax, and Ultramax vessels in the spot and time charter markets. The company transports bulk commodities, such as ores, coal, grains, and fertilizers.
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