Empowered Funds LLC Grows Stock Position in Golden Ocean Group Limited (NASDAQ:GOGL)

Empowered Funds LLC boosted its position in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 963,005 shares of the shipping company’s stock after buying an additional 33,241 shares during the quarter. Empowered Funds LLC owned 0.48% of Golden Ocean Group worth $8,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GOGL. JPMorgan Chase & Co. boosted its stake in shares of Golden Ocean Group by 31.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock worth $5,947,000 after purchasing an additional 106,966 shares during the period. Dakota Wealth Management bought a new stake in Golden Ocean Group in the fourth quarter worth about $770,000. Assenagon Asset Management S.A. boosted its position in shares of Golden Ocean Group by 196.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 961,367 shares of the shipping company’s stock valued at $8,614,000 after buying an additional 637,103 shares during the period. Mirabella Financial Services LLP bought a new position in shares of Golden Ocean Group during the third quarter valued at approximately $9,360,000. Finally, Quantbot Technologies LP raised its holdings in shares of Golden Ocean Group by 93.7% in the third quarter. Quantbot Technologies LP now owns 228,972 shares of the shipping company’s stock worth $3,064,000 after buying an additional 110,745 shares during the period. Institutional investors own 22.00% of the company’s stock.

Golden Ocean Group Stock Up 0.3 %

Shares of NASDAQ GOGL opened at $9.28 on Monday. Golden Ocean Group Limited has a 52-week low of $8.52 and a 52-week high of $15.77. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 7.67 and a beta of 1.16. The stock has a 50 day moving average price of $9.14 and a 200 day moving average price of $10.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22.

Golden Ocean Group (NASDAQ:GOGL) last issued its earnings results on Wednesday, November 27th. The shipping company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. Sell-side analysts expect that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Monday, December 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $1.20 annualized dividend and a dividend yield of 12.93%. Golden Ocean Group’s dividend payout ratio is currently 99.17%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GOGL shares. Jefferies Financial Group dropped their price objective on Golden Ocean Group from $12.50 to $12.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Pareto Securities reissued a “hold” rating and set a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st.

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.