JPMorgan Chase & Co. Buys 106,966 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

JPMorgan Chase & Co. boosted its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 31.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 444,453 shares of the shipping company’s stock after buying an additional 106,966 shares during the period. JPMorgan Chase & Co. owned approximately 0.22% of Golden Ocean Group worth $5,947,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOGL. Public Employees Retirement System of Ohio bought a new position in shares of Golden Ocean Group during the third quarter valued at $1,543,000. Two Sigma Advisers LP raised its holdings in Golden Ocean Group by 6.9% in the third quarter. Two Sigma Advisers LP now owns 2,751,677 shares of the shipping company’s stock worth $36,817,000 after buying an additional 177,100 shares during the last quarter. Quadrature Capital Ltd lifted its stake in shares of Golden Ocean Group by 8.4% in the third quarter. Quadrature Capital Ltd now owns 66,760 shares of the shipping company’s stock worth $894,000 after buying an additional 5,180 shares in the last quarter. Quantinno Capital Management LP grew its holdings in shares of Golden Ocean Group by 96.3% during the third quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock valued at $264,000 after buying an additional 9,684 shares during the last quarter. Finally, Petrus Trust Company LTA grew its holdings in shares of Golden Ocean Group by 117.0% during the third quarter. Petrus Trust Company LTA now owns 73,984 shares of the shipping company’s stock valued at $990,000 after buying an additional 39,891 shares during the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOGL shares. Pareto Securities reaffirmed a “hold” rating and issued a $12.50 price objective on shares of Golden Ocean Group in a research report on Thursday, November 21st. Jefferies Financial Group dropped their price objective on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Finally, StockNews.com downgraded Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Golden Ocean Group Trading Down 3.0 %

Shares of GOGL stock opened at $8.99 on Friday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 12-month low of $8.52 and a 12-month high of $15.77. The stock has a market capitalization of $1.80 billion, a P/E ratio of 7.43 and a beta of 1.18. The firm’s 50 day moving average is $9.92 and its 200 day moving average is $11.40.

Golden Ocean Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 13.35%. Golden Ocean Group’s dividend payout ratio (DPR) is currently 99.17%.

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.