Empowered Funds LLC Purchases 33,241 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Empowered Funds LLC grew its position in Golden Ocean Group Limited (NASDAQ:GOGL) by 3.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 963,005 shares of the shipping company’s stock after acquiring an additional 33,241 shares during the quarter. Empowered Funds LLC’s holdings in Golden Ocean Group were worth $8,629,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOGL. Point72 Hong Kong Ltd acquired a new stake in Golden Ocean Group in the third quarter valued at approximately $28,000. FMR LLC lifted its holdings in shares of Golden Ocean Group by 146.8% during the 3rd quarter. FMR LLC now owns 12,210 shares of the shipping company’s stock valued at $163,000 after purchasing an additional 7,263 shares during the last quarter. Svenska Handelsbanken AB publ acquired a new stake in shares of Golden Ocean Group in the 4th quarter worth $208,000. Quantinno Capital Management LP grew its stake in Golden Ocean Group by 96.3% during the 3rd quarter. Quantinno Capital Management LP now owns 19,740 shares of the shipping company’s stock worth $264,000 after buying an additional 9,684 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its position in Golden Ocean Group by 10.4% during the 4th quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock valued at $314,000 after buying an additional 3,315 shares in the last quarter. Hedge funds and other institutional investors own 22.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on GOGL. Jefferies Financial Group lowered their price target 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 reiterated a “hold” rating and issued a $12.50 target price on shares of Golden Ocean Group in a research note on Thursday, November 21st.

Golden Ocean Group Stock Performance

Shares of GOGL stock opened at $9.28 on Monday. The business has a fifty day moving average of $9.14 and a 200 day moving average of $10.88. Golden Ocean Group Limited has a 1 year low of $8.52 and a 1 year high of $15.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 7.67 and a beta of 1.16.

Golden Ocean Group (NASDAQ:GOGL) last announced its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) 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%. As a group, research analysts expect that Golden Ocean Group Limited will post 1.14 earnings per share for the current year.

Golden Ocean Group Dividend Announcement

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

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.