Golden Ocean Group (NASDAQ:GOGL) has earned an average recommendation of “Hold” from the ten ratings firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $10.50.
GOGL has been the topic of several research reports. TheStreet upgraded shares of Golden Ocean Group from a “d+” rating to a “c” rating in a report on Tuesday, February 20th. Morgan Stanley set a $10.00 target price on shares of Golden Ocean Group and gave the stock a “hold” rating in a report on Wednesday, February 21st. BidaskClub cut shares of Golden Ocean Group from a “hold” rating to a “sell” rating in a report on Thursday, December 21st. JPMorgan Chase raised their target price on shares of Golden Ocean Group from $11.00 to $11.50 and gave the stock an “overweight” rating in a report on Friday, March 23rd. Finally, Clarkson Capital upgraded shares of Golden Ocean Group from a “neutral” rating to a “buy” rating in a report on Monday, February 12th.
GOGL stock traded down $0.35 on Friday, hitting $7.28. The company had a trading volume of 141,100 shares, compared to its average volume of 208,287. Golden Ocean Group has a 12-month low of $5.43 and a 12-month high of $9.95. The company has a current ratio of 2.45, a quick ratio of 2.34 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $1,050.13, a P/E ratio of -364.00 and a beta of 1.95.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Stockholders of record on Monday, March 5th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, March 2nd. This is a boost from Golden Ocean Group’s previous quarterly dividend of $0.05. Golden Ocean Group’s dividend payout ratio (DPR) is currently -2,000.00%.
Institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in shares of Golden Ocean Group during the 3rd quarter worth $717,000. Jane Street Group LLC boosted its stake in shares of Golden Ocean Group by 106.9% during the 3rd quarter. Jane Street Group LLC now owns 140,086 shares of the shipping company’s stock worth $1,098,000 after acquiring an additional 72,393 shares during the last quarter. Swiss National Bank boosted its stake in shares of Golden Ocean Group by 21.7% during the 4th quarter. Swiss National Bank now owns 140,260 shares of the shipping company’s stock worth $1,140,000 after acquiring an additional 25,000 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Golden Ocean Group by 41.1% during the 3rd quarter. California Public Employees Retirement System now owns 118,144 shares of the shipping company’s stock worth $926,000 after acquiring an additional 34,424 shares during the last quarter. Finally, Navellier & Associates Inc purchased a new position in shares of Golden Ocean Group during the 4th quarter worth $558,000. Institutional investors and hedge funds own 26.92% of the company’s stock.
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About Golden Ocean Group
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, Kamsarmax, Panamax, and Supramax vessels. The company transports bulk commodities, such as ores, coal, grains, and fertilizers along worldwide shipping routes.
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