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

Doheny Asset Management CA trimmed its holdings in shares of SFL Co. Ltd. (NYSE:SFL) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306,124 shares of the shipping company’s stock after selling 54,800 shares during the quarter. SFL comprises about 2.3% of Doheny Asset Management CA’s holdings, making the stock its 12th largest position. Doheny Asset Management CA owned 0.22% of SFL worth $3,129,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in shares of SFL in the 3rd quarter worth about $168,000. Victory Capital Management Inc. boosted its holdings in shares of SFL by 11.4% in the 3rd quarter. Victory Capital Management Inc. now owns 20,511 shares of the shipping company’s stock worth $237,000 after purchasing an additional 2,104 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of SFL by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 701,879 shares of the shipping company’s stock worth $8,121,000 after purchasing an additional 35,778 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of SFL in the 3rd quarter worth about $357,000. Finally, Nwam LLC purchased a new position in shares of SFL in the 3rd quarter worth about $179,000. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Fearnley Fonds upgraded SFL from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 21st. StockNews.com lowered SFL from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th.

SFL Trading Up 2.8 %

SFL opened at $8.34 on Friday. The business has a 50 day simple moving average of $9.97 and a two-hundred day simple moving average of $10.54. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 8.25 and a beta of 0.67. 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 Co. Ltd. has a one year low of $8.06 and a one year high of $14.62.

SFL Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 12.96%. The ex-dividend date is Wednesday, March 12th. SFL’s dividend payout ratio is currently 106.93%.

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.