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

SFL Co. Ltd. (NYSE:SFL)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $8.06 and last traded at $8.09, with a volume of 576555 shares changing hands. The stock had previously closed at $8.16.

Analysts Set New Price Targets

Separately, StockNews.com lowered SFL from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th.

SFL Stock Performance

The company’s 50 day simple moving average is $9.53 and its 200 day simple moving average is $10.34. The stock has a market cap of $1.19 billion, a PE ratio of 8.08 and a beta of 0.67. The company has a debt-to-equity ratio of 1.91, a quick ratio of 0.50 and a current ratio of 0.38.

SFL Announces Dividend

The firm 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 annualized dividend and a yield of 13.23%. SFL’s dividend payout ratio is currently 106.93%.

Institutional Investors Weigh In On SFL

Several large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in shares of SFL by 239.3% in the 3rd quarter. Barclays PLC now owns 168,908 shares of the shipping company’s stock worth $1,954,000 after buying an additional 119,131 shares during the last quarter. Geode Capital Management LLC grew its position in shares of SFL by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,441,688 shares of the shipping company’s stock valued at $16,680,000 after acquiring an additional 66,096 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of SFL during the 4th quarter valued at approximately $809,000. Victory Capital Management Inc. increased its stake in shares of SFL by 2,095.5% during the 4th quarter. Victory Capital Management Inc. now owns 450,311 shares of the shipping company’s stock worth $4,602,000 after purchasing an additional 429,800 shares during the last quarter. Finally, Wealthstar Advisors LLC purchased a new stake in shares of SFL during the 4th quarter worth approximately $569,000. 28.59% of the stock is owned by hedge funds and other 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.