Doheny Asset Management CA Sells 54,800 Shares of SFL Co. Ltd. (NYSE:SFL)

Doheny Asset Management CA lowered its position in SFL Co. Ltd. (NYSE:SFL - Free Report) by 15.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 306,124 shares of the shipping company's stock after selling 54,800 shares during the period. SFL accounts for 2.3% of Doheny Asset Management CA's portfolio, making the stock its 12th largest holding. Doheny Asset Management CA owned 0.22% of SFL worth $3,129,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its holdings in SFL by 41.9% in the fourth quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company's stock worth $33,000 after buying an additional 950 shares during the last quarter. Blue Trust Inc. increased its holdings in SFL by 64.6% in the fourth quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company's stock worth $33,000 after buying an additional 1,278 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in SFL by 3.3% during the third quarter. The Manufacturers Life Insurance Company now owns 44,472 shares of the shipping company's stock valued at $515,000 after purchasing an additional 1,418 shares during the last quarter. Brighton Jones LLC grew its holdings in SFL by 8.2% during the fourth quarter. Brighton Jones LLC now owns 19,395 shares of the shipping company's stock valued at $198,000 after purchasing an additional 1,474 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in SFL by 2.4% during the third quarter. MetLife Investment Management LLC now owns 65,785 shares of the shipping company's stock valued at $761,000 after purchasing an additional 1,515 shares during the last quarter. Institutional investors and hedge funds own 28.59% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have commented on SFL. StockNews.com downgraded SFL from a "hold" rating to a "sell" rating in a report on Thursday, February 13th. Fearnley Fonds upgraded SFL from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 21st.

SFL Stock Performance

Shares of SFL stock traded up $0.17 during midday trading on Wednesday, hitting $8.55. The company had a trading volume of 1,128,700 shares, compared to its average volume of 905,479. The business's 50 day simple moving average is $9.89 and its two-hundred day simple moving average is $10.48. The stock has a market cap of $1.18 billion, a PE ratio of 8.46 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 1-year low of $8.06 and a 1-year high of $14.62.

SFL Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Wednesday, March 12th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $1.08 annualized dividend and a dividend yield of 12.64%. SFL's payout ratio is 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.