Golden Ocean Group Sees Unusually High Options Volume (NASDAQ:GOGL)

Golden Ocean Group Limited (NASDAQ:GOGL) was the target of unusually large options trading activity on Wednesday. Investors acquired 9,014 call options on the stock. This represents an increase of 2,397% compared to the typical daily volume of 361 call options.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on GOGL shares. Pareto Securities reiterated a “hold” rating and set a $12.50 price objective on shares of Golden Ocean Group in a report on Thursday, November 21st. Jefferies Financial Group reiterated a “hold” rating and set a $10.00 price objective on shares of Golden Ocean Group in a report on Wednesday.

Golden Ocean Group Trading Up 0.3 %

NASDAQ GOGL opened at $9.85 on Friday. Golden Ocean Group has a one year low of $8.52 and a one year high of $15.77. The company’s 50 day moving average price is $9.16 and its 200 day moving average price is $10.64. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.14 and a beta of 1.16.

Golden Ocean Group (NASDAQ:GOGL) last posted its quarterly earnings results on Wednesday, November 27th. The shipping company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.29 by $0.04. Golden Ocean Group had a net margin of 23.89% and a return on equity of 13.14%. On average, sell-side analysts predict that Golden Ocean Group will post 1.14 EPS for the current year.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend is Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio (DPR) is 99.17%.

Institutional Trading of Golden Ocean Group

Several large investors have recently bought and sold shares of GOGL. US Bancorp DE grew its position in Golden Ocean Group by 1,127.7% in the third quarter. US Bancorp DE now owns 43,632 shares of the shipping company’s stock valued at $584,000 after acquiring an additional 40,078 shares in the last quarter. Summit Global Investments acquired a new stake in Golden Ocean Group in the third quarter valued at approximately $436,000. Empowered Funds LLC grew its position in Golden Ocean Group by 5.4% in the third quarter. Empowered Funds LLC now owns 929,764 shares of the shipping company’s stock valued at $12,440,000 after acquiring an additional 47,302 shares in the last quarter. Jennison Associates LLC acquired a new stake in Golden Ocean Group in the third quarter valued at approximately $744,000. Finally, Intech Investment Management LLC acquired a new stake in Golden Ocean Group in the third quarter valued at approximately $477,000. 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.