Doheny Asset Management CA Has $2.74 Million Holdings in SFL Co. Ltd. (NYSE:SFL)

Doheny Asset Management CA raised its holdings in SFL Co. Ltd. (NYSE:SFL) by 99.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 242,524 shares of the shipping company’s stock after buying an additional 120,624 shares during the quarter. SFL accounts for 2.7% of Doheny Asset Management CA’s investment portfolio, making the stock its 11th largest holding. Doheny Asset Management CA owned about 0.18% of SFL worth $2,736,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC lifted its stake in SFL by 8.1% in the fourth quarter. Brighton Jones LLC now owns 18,904 shares of the shipping company’s stock valued at $213,000 after buying an additional 1,424 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in shares of SFL by 7.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 22,457 shares of the shipping company’s stock worth $250,000 after purchasing an additional 1,472 shares during the period. Commonwealth Equity Services LLC raised its position in shares of SFL by 7.3% during the third quarter. Commonwealth Equity Services LLC now owns 28,213 shares of the shipping company’s stock worth $315,000 after purchasing an additional 1,918 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of SFL during the fourth quarter worth approximately $25,000. Finally, DAVENPORT & Co LLC raised its position in shares of SFL by 14.7% during the fourth quarter. DAVENPORT & Co LLC now owns 17,809 shares of the shipping company’s stock worth $201,000 after purchasing an additional 2,280 shares during the period. 28.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SFL. StockNews.com lowered SFL from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. BTIG Research upped their target price on SFL from $13.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, SFL has an average rating of “Hold” and a consensus price target of $12.00.

SFL Stock Up 2.8 %

SFL stock traded up $0.37 during trading on Thursday, hitting $13.63. 300,353 shares of the company were exchanged, compared to its average volume of 707,844. The business’s 50 day moving average is $13.13 and its 200 day moving average is $12.08. SFL Co. Ltd. has a 52 week low of $8.43 and a 52 week high of $13.74. The company has a market capitalization of $1.89 billion, a P/E ratio of 20.08 and a beta of 0.65. The company has a current ratio of 0.31, a quick ratio of 0.30 and a debt-to-equity ratio of 1.65.

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

SFL Increases Dividend

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

SFL 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.