Golden Ocean Group’s (GOGL) Hold Rating Reaffirmed at Jefferies Financial Group

Jefferies Financial Group restated their hold rating on shares of Golden Ocean Group (NASDAQ:GOGL) in a report released on Wednesday,Benzinga reports. Jefferies Financial Group currently has a $10.00 price target on the shipping company’s stock.

Separately, Pareto Securities restated a “hold” rating and set a $12.50 price objective 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 $9.82 on Wednesday. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 8.12 and a beta of 1.16. Golden Ocean Group has a one year low of $8.52 and a one year high of $15.77. The company’s 50-day simple moving average is $9.14 and its 200-day simple moving average is $10.65. 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 announced its quarterly earnings data on Wednesday, November 27th. The shipping company reported $0.33 earnings per share (EPS) for the quarter, beating 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%. Equities analysts anticipate that Golden Ocean Group will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Golden Ocean Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Jones Financial Companies Lllp grew its holdings in shares of Golden Ocean Group by 683.1% during the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 2,391 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Golden Ocean Group during the 3rd quarter valued at approximately $28,000. Sterling Capital Management LLC grew its stake in Golden Ocean Group by 830.1% during the 4th quarter. Sterling Capital Management LLC now owns 3,897 shares of the shipping company’s stock worth $35,000 after buying an additional 3,478 shares during the last quarter. Quarry LP increased its position in Golden Ocean Group by 195.3% in the fourth quarter. Quarry LP now owns 4,981 shares of the shipping company’s stock worth $45,000 after buying an additional 3,294 shares during the period. Finally, SBI Securities Co. Ltd. bought a new stake in Golden Ocean Group in the fourth quarter valued at $46,000. 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.