Golden Ocean Group Limited (NASDAQ:GOGL) Declares Dividend of $0.05

Golden Ocean Group Limited (NASDAQ:GOGL) announced a dividend on Wednesday, May 21st, NASDAQ Dividends reports. Shareholders of record on Thursday, June 5th will be paid a dividend of 0.05 per share by the shipping company on Tuesday, June 17th. The ex-dividend date of this dividend is Thursday, June 5th.

Golden Ocean Group has decreased its dividend payment by an average of 9.1% per year over the last three years. Golden Ocean Group has a dividend payout ratio of 12.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Golden Ocean Group to earn $0.95 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 21.1%.

Golden Ocean Group Trading Up 0.9%

Shares of GOGL opened at $7.77 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. Golden Ocean Group has a twelve month low of $6.27 and a twelve month high of $14.29. The stock has a market capitalization of $1.55 billion, a P/E ratio of 6.42 and a beta of 1.06. The firm has a fifty day simple moving average of $7.53 and a two-hundred day simple moving average of $8.63.

Golden Ocean Group (NASDAQ:GOGL) last issued its quarterly earnings data on Wednesday, May 21st. The shipping company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.09). Golden Ocean Group had a return on equity of 13.14% and a net margin of 23.89%. The company had revenue of $115.00 million during the quarter, compared to the consensus estimate of $106.48 million. On average, research analysts anticipate that Golden Ocean Group will post 1.14 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Golden Ocean Group stock. Goldman Sachs Group Inc. increased its holdings in Golden Ocean Group Limited (NASDAQ:GOGL) by 109.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,490,464 shares of the shipping company’s stock after acquiring an additional 778,687 shares during the quarter. Goldman Sachs Group Inc. owned about 0.75% of Golden Ocean Group worth $11,894,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 22.00% of the company’s stock.

Analyst Ratings Changes

GOGL has been the subject of several research reports. Jefferies Financial Group decreased their price objective on shares of Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Wall Street Zen began coverage on shares of Golden Ocean Group in a report on Thursday, May 22nd. They issued a “hold” rating for the company.

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.