SFL (NYSE:SFL) Reaches New 1-Year Low – What’s Next?

SFL Co. Ltd. (NYSE:SFL) reached a new 52-week low on Tuesday . The stock traded as low as $8.66 and last traded at $8.73, with a volume of 2058845 shares. The stock had previously closed at $9.03.

Analysts Set New Price Targets

Several brokerages recently weighed in on SFL. StockNews.com downgraded SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Fearnley Fonds raised SFL from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 21st.

SFL Trading Down 3.3 %

The firm has a market cap of $1.21 billion, a P/E ratio of 8.64 and a beta of 0.66. The company’s 50 day moving average is $10.26 and its two-hundred day moving average is $10.72. The company has a debt-to-equity ratio of 1.91, a current ratio of 0.38 and a quick ratio of 0.50.

SFL Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Wednesday, March 12th will be given a $0.27 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 12.37%. SFL’s dividend payout ratio is currently 106.93%.

Institutional Trading of SFL

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC boosted its stake in SFL by 831.8% during the fourth quarter. Signaturefd LLC now owns 2,870 shares of the shipping company’s stock worth $29,000 after buying an additional 2,562 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of SFL during the 3rd quarter worth about $34,000. Jones Financial Companies Lllp boosted its position in shares of SFL by 41.9% during the 4th quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company’s stock valued at $33,000 after acquiring an additional 950 shares in the last quarter. Blue Trust Inc. increased its stake in SFL by 64.6% in the fourth quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company’s stock valued at $33,000 after acquiring an additional 1,278 shares during the period. Finally, Sterling Capital Management LLC raised its position in SFL by 883.5% in the fourth quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company’s stock worth $33,000 after purchasing an additional 2,942 shares in the last quarter. 28.59% of the stock is currently owned by institutional investors.

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.