Golden Ocean Group Limited (NASDAQ:GOGL) Shares Bought by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC grew its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,403 shares of the shipping company’s stock after acquiring an additional 1,701 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Golden Ocean Group were worth $385,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Swiss National Bank increased its stake in Golden Ocean Group by 1.4% during the 3rd quarter. Swiss National Bank now owns 288,459 shares of the shipping company’s stock worth $2,282,000 after buying an additional 3,939 shares during the period. Bank of New York Mellon Corp increased its stake in Golden Ocean Group by 22.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 475,876 shares of the shipping company’s stock worth $3,750,000 after buying an additional 86,628 shares during the period. BDL Capital Management purchased a new stake in Golden Ocean Group during the 4th quarter worth $930,000. GSA Capital Partners LLP purchased a new stake in Golden Ocean Group during the 3rd quarter worth $1,042,000. Finally, New York State Common Retirement Fund increased its stake in Golden Ocean Group by 557.4% during the 3rd quarter. New York State Common Retirement Fund now owns 249,523 shares of the shipping company’s stock worth $1,966,000 after buying an additional 211,567 shares during the period. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Down 0.5 %

Shares of GOGL traded down $0.07 during midday trading on Friday, hitting $12.97. The company had a trading volume of 1,197,607 shares, compared to its average volume of 1,342,820. The company’s 50 day moving average price is $12.58 and its 200 day moving average price is $10.24. The stock has a market cap of $2.59 billion, a price-to-earnings 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 quick ratio of 1.05, a current ratio of 1.23 and a debt-to-equity ratio of 0.69.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings results on Wednesday, February 28th. The shipping company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. Golden Ocean Group had a net margin of 12.68% and a return on equity of 5.91%. The business had revenue of $196.75 million during the quarter, compared to analyst estimates of $187.19 million. On average, equities research analysts predict that Golden Ocean Group Limited will post 1.52 EPS for the current year.

Golden Ocean Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Wednesday, March 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, March 12th. This is a positive change from Golden Ocean Group’s previous quarterly dividend of $0.10. This represents a $1.20 annualized dividend and a dividend yield of 9.25%. Golden Ocean Group’s payout ratio is 214.29%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on GOGL shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Golden Ocean Group in a research note on Wednesday, February 28th. StockNews.com raised shares of Golden Ocean Group from a “sell” rating to a “hold” rating in a research report on Monday, March 4th. Finally, BTIG Research reissued a “neutral” rating on shares of Golden Ocean Group in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

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.