SFL (NYSE:SFL) Shares Gap Down – Time to Sell?

SFL Co. Ltd. (NYSE:SFL) gapped down before the market opened on Wednesday . The stock had previously closed at $10.99, but opened at $10.40. SFL shares last traded at $10.55, with a volume of 236,781 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SFL shares. Fearnley Fonds upgraded shares of SFL from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 21st. StockNews.com lowered shares of SFL from a “hold” rating to a “sell” rating in a research report on Thursday.

SFL Trading Down 5.3 %

The company has a 50-day simple moving average of $10.46 and a 200-day simple moving average of $10.91. The company has a debt-to-equity ratio of 1.93, a quick ratio of 0.50 and a current ratio of 0.50. The stock has a market cap of $1.36 billion, a P/E ratio of 8.85 and a beta of 0.66.

SFL Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Wednesday, March 12th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $1.08 annualized dividend and a yield of 10.99%. SFL’s dividend payout ratio (DPR) is 97.30%.

Institutional Investors Weigh In On SFL

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SFL. Signaturefd LLC grew its stake in shares of SFL by 831.8% during the fourth quarter. Signaturefd LLC now owns 2,870 shares of the shipping company’s stock valued at $29,000 after purchasing an additional 2,562 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in SFL during the 3rd quarter worth $34,000. Jones Financial Companies Lllp boosted its position in SFL by 41.9% in the 4th quarter. Jones Financial Companies Lllp now owns 3,220 shares of the shipping company’s stock valued at $33,000 after buying an additional 950 shares during the last quarter. Blue Trust Inc. increased its stake in shares of SFL by 64.6% in the 4th quarter. Blue Trust Inc. now owns 3,257 shares of the shipping company’s stock valued at $33,000 after buying an additional 1,278 shares during the period. Finally, Sterling Capital Management LLC raised its position in shares of SFL by 883.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,275 shares of the shipping company’s stock worth $33,000 after acquiring an additional 2,942 shares during the last quarter. Institutional investors and hedge funds own 28.59% of the company’s stock.

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.