Onyx Bridge Wealth Group LLC Has $385,000 Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Onyx Bridge Wealth Group LLC increased its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 4.5% in the 4th quarter, HoldingsChannel reports. The firm owned 39,403 shares of the shipping company’s stock after acquiring an additional 1,701 shares during the quarter. Onyx Bridge Wealth Group LLC’s holdings in Golden Ocean Group were worth $385,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GOGL. Legal & General Group Plc bought a new stake in Golden Ocean Group during the second quarter worth about $27,000. State of Wyoming lifted its position in Golden Ocean Group by 52.8% during the fourth quarter. State of Wyoming now owns 3,517 shares of the shipping company’s stock worth $31,000 after purchasing an additional 1,215 shares during the period. Blue Trust Inc. bought a new stake in Golden Ocean Group during the fourth quarter worth about $53,000. Prelude Capital Management LLC bought a new position in shares of Golden Ocean Group in the third quarter worth about $78,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of Golden Ocean Group in the third quarter worth about $98,000. Institutional investors own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

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

Golden Ocean Group Trading Down 0.5 %

NASDAQ GOGL traded down $0.07 during trading hours on Friday, reaching $12.97. The company’s stock had a trading volume of 1,197,607 shares, compared to its average volume of 1,342,820. The firm has a fifty day simple moving average of $12.58 and a 200-day simple moving average of $10.24. The stock has a market cap of $2.59 billion, a P/E ratio of 23.16 and a beta of 1.39. Golden Ocean Group Limited has a 52 week low of $6.89 and a 52 week high of $13.95. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.23 and a quick ratio of 1.05.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data 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. The business had revenue of $196.75 million during the quarter, compared to analyst estimates of $187.19 million. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. Equities analysts forecast that Golden Ocean Group Limited will post 1.52 earnings per share for the current fiscal year.

Golden Ocean Group Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Wednesday, March 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 9.25%. 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. Golden Ocean Group’s dividend payout ratio is currently 214.29%.

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.