SFL (NYSE:SFL) Lifted to “Buy” at StockNews.com

StockNews.com upgraded shares of SFL (NYSE:SFL) from a hold rating to a buy rating in a research report released on Tuesday morning.

Separately, BTIG Research boosted their price target on shares of SFL from $15.00 to $16.00 and gave the company a buy rating in a research report on Tuesday, May 14th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $12.33.

SFL Price Performance

SFL opened at $14.19 on Tuesday. The stock’s 50 day moving average price is $13.34 and its 200-day moving average price is $12.42. SFL has a 52-week low of $8.52 and a 52-week high of $14.62. The stock has a market capitalization of $1.97 billion, a PE ratio of 14.62 and a beta of 0.65. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.30 and a current ratio of 0.31.

SFL Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 26th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.27 per share. This is an increase from SFL’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 7.61%. The ex-dividend date is Friday, May 24th. SFL’s dividend payout ratio is presently 107.22%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SFL. Dimensional Fund Advisors LP grew its position in SFL by 2.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,803,647 shares of the shipping company’s stock valued at $99,306,000 after buying an additional 226,432 shares during the period. American Century Companies Inc. grew its position in shares of SFL by 9.3% during the 3rd quarter. American Century Companies Inc. now owns 1,556,099 shares of the shipping company’s stock valued at $17,351,000 after acquiring an additional 131,903 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of SFL by 64.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,437,802 shares of the shipping company’s stock worth $16,218,000 after purchasing an additional 564,675 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in SFL by 3.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,382,207 shares of the shipping company’s stock worth $15,591,000 after purchasing an additional 51,645 shares during the period. Finally, Vanguard Group Inc. lifted its position in SFL by 7.1% during the first quarter. Vanguard Group Inc. now owns 1,348,021 shares of the shipping company’s stock valued at $17,767,000 after purchasing an additional 89,300 shares in the last quarter. 28.59% of the stock is owned by hedge funds and other institutional investors.

About SFL

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.