SFL’s (SFL) “Buy” Rating Reiterated at BTIG Research

BTIG Research reissued their buy rating on shares of SFL (NYSE:SFL) in a report published on Wednesday, Marketbeat.com reports. The firm currently has a $14.00 price target on the shipping company’s stock.

Several other brokerages have also weighed in on SFL. Weiss Ratings reissued a “hold (c)” rating on shares of SFL in a report on Wednesday, August 12th. Wall Street Zen upgraded SFL from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.00.

SFL Price Performance

SFL stock opened at $12.35 on Wednesday. The firm has a 50 day moving average price of $11.61 and a 200-day moving average price of $11.24. The company has a quick ratio of 0.32, a current ratio of 0.38 and a debt-to-equity ratio of 1.75. SFL has a twelve month low of $6.73 and a twelve month high of $12.94. The company has a market capitalization of $1.79 billion, a P/E ratio of 25.73 and a beta of 0.43.

SFL Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 22nd. Shareholders of record on Wednesday, September 9th will be given a dividend of $0.22 per share. The ex-dividend date is Wednesday, September 9th. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. SFL’s dividend payout ratio is currently 366.67%.

Hedge Funds Weigh In On SFL

Hedge funds have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in SFL by 164.1% in the 2nd quarter. California State Teachers Retirement System now owns 17,340 shares of the shipping company’s stock worth $1,700,000 after purchasing an additional 10,774 shares during the period. Coppell Advisory Solutions LLC purchased a new position in SFL during the 2nd quarter valued at about $456,000. Public Employees Retirement System of Ohio bought a new stake in shares of SFL during the second quarter valued at about $424,000. Philadelphia Investment Partners LLC bought a new stake in shares of SFL during the second quarter valued at about $401,000. Finally, Empowered Funds LLC lifted its holdings in shares of SFL by 3.9% in the first quarter. Empowered Funds LLC now owns 685,833 shares of the shipping company’s stock worth $7,400,000 after buying an additional 25,820 shares in the last quarter. 28.59% of the stock is currently owned by hedge funds and other institutional investors.

About SFL

Ship Finance International Limited (NYSE: SFL) is an independent owner of modern, large-size ocean-going vessels that provides finance and leasing services to the global shipping industry. The company’s fleet encompasses a diversified mix of crude oil tankers, product and chemical tankers, liquefied natural gas (LNG) carriers, dry bulk carriers, container vessels and floating production storage and offloading (FPSO) units. By structuring long-term charter agreements and bareboat leases with major oil companies, commodity traders and offshore operators, Ship Finance International seeks to deliver stable cash flows and risk-adjusted returns for its shareholders.

In its core business, Ship Finance International acquires or finances vessels through forward sales agreements and then charters them out under fixed-rate contracts, typically ranging from five to 20 years in duration.