Skandinaviska Enskilda Banken AB publ Boosts Holdings in Golden Ocean Group Limited (NASDAQ:GOGL)

Skandinaviska Enskilda Banken AB publ raised its stake in Golden Ocean Group Limited (NASDAQ:GOGL) by 35.7% during the fourth quarter, Holdings Channel reports. The fund owned 176,380 shares of the shipping company’s stock after buying an additional 46,415 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Golden Ocean Group were worth $1,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of GOGL. Jones Financial Companies Lllp increased its holdings in Golden Ocean Group by 683.1% in the 4th quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after acquiring an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Golden Ocean Group in the third quarter worth about $28,000. SBI Securities Co. Ltd. purchased a new position in shares of Golden Ocean Group in the fourth quarter worth about $46,000. MQS Management LLC bought a new stake in shares of Golden Ocean Group in the fourth quarter valued at approximately $120,000. Finally, FMR LLC lifted its stake 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 buying an additional 7,263 shares in the last quarter. 22.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOGL has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “hold” rating and issued a $10.00 price objective on shares of Golden Ocean Group in a research note on Wednesday, February 26th. Pareto Securities reiterated a “hold” rating and issued a $12.50 price target on shares of Golden Ocean Group in a research report on Thursday, November 21st.

Golden Ocean Group Trading Up 1.2 %

Shares of Golden Ocean Group stock opened at $7.80 on Tuesday. The company’s 50-day moving average price is $9.07 and its 200-day moving average price is $10.31. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group Limited has a 12-month low of $7.49 and a 12-month high of $15.77. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 6.45 and a beta of 1.14.

Golden Ocean Group Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Tuesday, March 11th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 7.69%. The ex-dividend date of this dividend is Tuesday, March 11th. Golden Ocean Group’s payout ratio is 53.57%.

About Golden Ocean Group

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.