Doheny Asset Management CA Increases Holdings in SFL Co. Ltd. (NYSE:SFL)

Doheny Asset Management CA raised its stake in shares of SFL Co. Ltd. (NYSE:SFL) by 99.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 242,524 shares of the shipping company’s stock after buying an additional 120,624 shares during the quarter. SFL accounts for about 2.7% of Doheny Asset Management CA’s holdings, making the stock its 11th biggest position. Doheny Asset Management CA’s holdings in SFL were worth $2,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SFL. Tennessee Valley Asset Management Partners purchased a new position in SFL during the fourth quarter valued at $25,000. EMC Capital Management raised its stake in SFL by 746.4% during the third quarter. EMC Capital Management now owns 8,887 shares of the shipping company’s stock valued at $99,000 after buying an additional 7,837 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in SFL by 2,191.1% during the third quarter. PNC Financial Services Group Inc. now owns 13,632 shares of the shipping company’s stock valued at $152,000 after buying an additional 13,037 shares during the last quarter. Naples Money Management LLC purchased a new position in SFL during the fourth quarter valued at $168,000. Finally, Calton & Associates Inc. purchased a new position in SFL during the third quarter valued at $176,000. Hedge funds and other institutional investors own 28.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. BTIG Research boosted their price target on SFL from $13.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. StockNews.com lowered SFL from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.00.

SFL Trading Up 2.8 %

Shares of NYSE:SFL traded up $0.37 during trading on Thursday, reaching $13.63. 300,353 shares of the company were exchanged, compared to its average volume of 707,844. The firm has a market capitalization of $1.89 billion, a PE ratio of 20.08 and a beta of 0.65. SFL Co. Ltd. has a 12-month low of $8.43 and a 12-month high of $13.74. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.31 and a quick ratio of 0.30. The business’s fifty day simple moving average is $13.13 and its 200-day simple moving average is $12.08.

SFL (NYSE:SFL) last posted its quarterly earnings data on Wednesday, February 14th. The shipping company reported $0.30 EPS for the quarter. SFL had a net margin of 11.16% and a return on equity of 8.04%. The business had revenue of $209.57 million during the quarter.

SFL Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 7.63%. This is a boost from SFL’s previous quarterly dividend of $0.25. SFL’s payout ratio is currently 157.58%.

SFL Company Profile

SFL Corporation Ltd., a maritime and offshore asset owning and chartering company, engages in the ownership, operation, and chartering out of vessels and offshore related assets on medium and long-term charters. The company operates in various sectors of the maritime, and shipping and offshore industries, including oil transportation, dry bulk shipments, chemical transportation, oil products transportation, container transportation, car transportation, and drilling rigs.