Charles Schwab Investment Management Inc. Acquires 33,695 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Charles Schwab Investment Management Inc. raised its stake in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 10.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 353,234 shares of the shipping company’s stock after acquiring an additional 33,695 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Golden Ocean Group were worth $3,165,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in Golden Ocean Group by 16.5% in the fourth quarter. New York State Common Retirement Fund now owns 222,238 shares of the shipping company’s stock worth $1,991,000 after purchasing an additional 31,500 shares during the period. Empowered Funds LLC grew its stake in shares of Golden Ocean Group by 3.6% in the 4th quarter. Empowered Funds LLC now owns 963,005 shares of the shipping company’s stock valued at $8,629,000 after purchasing an additional 33,241 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Golden Ocean Group by 31.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 444,453 shares of the shipping company’s stock valued at $5,947,000 after purchasing an additional 106,966 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Golden Ocean Group in the 4th quarter worth approximately $46,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Golden Ocean Group during the 4th quarter worth approximately $519,000. 22.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a “hold” rating and issued a $10.00 target price on shares of Golden Ocean Group in a report on Wednesday, February 26th.

Golden Ocean Group Price Performance

Golden Ocean Group stock opened at $8.14 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 6.73 and a beta of 1.14. The business’s 50-day simple moving average is $8.87 and its 200 day simple moving average is $10.12. Golden Ocean Group Limited has a 12-month low of $7.49 and a 12-month high of $15.77.

Golden Ocean Group Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Tuesday, March 11th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 7.37%. The ex-dividend date of this dividend was Tuesday, March 11th. Golden Ocean Group’s payout ratio is 53.57%.

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.