Golden Ocean Group (NASDAQ:GOGL) Given Hold Rating at Pareto Securities

Pareto Securities reissued their hold rating on shares of Golden Ocean Group (NASDAQ:GOGL) in a report released on Thursday morning,Benzinga reports. The firm currently has a $12.50 price target on the shipping company’s stock.

GOGL has been the topic of several other reports. Jefferies Financial Group reduced their price target on Golden Ocean Group from $15.50 to $14.50 and set a “hold” rating on the stock in a research report on Wednesday, August 28th. StockNews.com lowered shares of Golden Ocean Group from a “buy” rating to a “hold” rating in a report on Saturday, October 5th.

Golden Ocean Group Trading Down 0.4 %

Shares of GOGL stock opened at $11.14 on Thursday. Golden Ocean Group has a 12-month low of $8.42 and a 12-month high of $15.77. The firm has a 50-day moving average price of $11.86 and a 200 day moving average price of $12.65. The company has a quick ratio of 1.00, a current ratio of 1.17 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $2.23 billion, a P/E ratio of 10.41 and a beta of 1.20.

Golden Ocean Group (NASDAQ:GOGL) last announced its earnings results on Wednesday, August 28th. The shipping company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Golden Ocean Group had a return on equity of 10.57% and a net margin of 22.01%. The company had revenue of $197.35 million for the quarter, compared to analysts’ expectations of $187.74 million. Research analysts forecast that Golden Ocean Group will post 1.18 earnings per share for the current fiscal year.

Golden Ocean Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Wednesday, September 11th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 10.77%. The ex-dividend date of this dividend was Wednesday, September 11th. Golden Ocean Group’s payout ratio is presently 112.15%.

Institutional Trading of Golden Ocean Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in Golden Ocean Group in the 3rd quarter valued at approximately $28,000. Nisa Investment Advisors LLC boosted its holdings in shares of Golden Ocean Group by 1,720.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,804 shares of the shipping company’s stock valued at $52,000 after buying an additional 3,595 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Golden Ocean Group by 2,319.5% in the second quarter. EverSource Wealth Advisors LLC now owns 9,170 shares of the shipping company’s stock valued at $127,000 after buying an additional 8,791 shares in the last quarter. Lazard Asset Management LLC acquired a new position in Golden Ocean Group during the first quarter worth $149,000. Finally, Bayesian Capital Management LP bought a new stake in Golden Ocean Group during the first quarter worth $151,000. Institutional investors and hedge funds own 22.00% of the company’s stock.

Golden Ocean Group Company 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.